Brown Brothers Harriman & Co. Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Brown Brothers Harriman & Co. reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 21.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,346 shares of the biopharmaceutical company’s stock after selling 364 shares during the period. Brown Brothers Harriman & Co.’s holdings in Gilead Sciences were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd boosted its stake in shares of Gilead Sciences by 3.2% during the second quarter. Plato Investment Management Ltd now owns 48,353 shares of the biopharmaceutical company’s stock valued at $3,317,000 after purchasing an additional 1,522 shares during the period. Providence Wealth Advisors LLC lifted its holdings in Gilead Sciences by 5.3% during the 2nd quarter. Providence Wealth Advisors LLC now owns 14,097 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 709 shares in the last quarter. WINTON GROUP Ltd grew its stake in Gilead Sciences by 52.9% in the 2nd quarter. WINTON GROUP Ltd now owns 8,800 shares of the biopharmaceutical company’s stock worth $604,000 after acquiring an additional 3,043 shares in the last quarter. Retirement Planning Co of New England Inc. increased its position in shares of Gilead Sciences by 7.5% during the second quarter. Retirement Planning Co of New England Inc. now owns 12,342 shares of the biopharmaceutical company’s stock worth $847,000 after acquiring an additional 858 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Gilead Sciences by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 183,224 shares of the biopharmaceutical company’s stock valued at $12,571,000 after acquiring an additional 31,148 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Trading Up 1.0 %

Shares of NASDAQ:GILD opened at $83.89 on Thursday. The business’s 50-day moving average is $76.40 and its 200 day moving average is $71.09. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The firm has a market capitalization of $104.51 billion, a P/E ratio of 233.03, a P/E/G ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, research analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,002,940 over the last three months. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. BMO Capital Markets boosted their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial increased their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 4th. Finally, Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Gilead Sciences Profile

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.