Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,628,942 shares of the biopharmaceutical company’s stock after selling 510,833 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.85% of Gilead Sciences worth $891,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Noesis Capital Mangement Corp boosted its position in shares of Gilead Sciences by 4.0% during the 3rd quarter. Noesis Capital Mangement Corp now owns 116,113 shares of the biopharmaceutical company’s stock valued at $9,735,000 after acquiring an additional 4,425 shares during the last quarter. Fiduciary Trust Co boosted its holdings in Gilead Sciences by 26.4% in the 3rd quarter. Fiduciary Trust Co now owns 13,424 shares of the biopharmaceutical company’s stock valued at $1,125,000 after purchasing an additional 2,807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Gilead Sciences by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848,235 shares of the biopharmaceutical company’s stock valued at $71,116,000 after buying an additional 74,063 shares during the period. Acuta Capital Partners LLC acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth approximately $1,635,000. Finally, CreativeOne Wealth LLC raised its position in shares of Gilead Sciences by 41.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 32,135 shares of the biopharmaceutical company’s stock valued at $2,694,000 after buying an additional 9,352 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 1.2 %

Shares of NASDAQ GILD opened at $92.41 on Thursday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a market capitalization of $115.17 billion, a price-to-earnings ratio of 1,026.78, a price-to-earnings-growth ratio of 2.81 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The business has a 50-day moving average of $87.91 and a two-hundred day moving average of $77.42.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.33%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,735 shares of company stock valued at $5,589,030 over the last ninety days. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GILD. Wolfe Research began coverage on Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Mizuho increased their price target on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.