Skandinaviska Enskilda Banken AB publ Has $40.17 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Skandinaviska Enskilda Banken AB publ decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 46.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 585,584 shares of the biopharmaceutical company’s stock after selling 512,849 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Gilead Sciences were worth $40,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GILD. Vanguard Group Inc. grew its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares in the last quarter. Capital World Investors boosted its position in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after acquiring an additional 1,133,281 shares during the period. Capital Research Global Investors grew its stake in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Parnassus Investments LLC lifted its position in shares of Gilead Sciences by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock worth $968,236,000 after purchasing an additional 36,686 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GILD. Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Monday, July 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,002,940 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Up 0.0 %

Shares of NASDAQ:GILD opened at $83.90 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock’s 50-day moving average is $76.67 and its 200-day moving average is $71.18. The company has a market cap of $104.53 billion, a P/E ratio of 233.06, a P/E/G ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

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

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

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.