ProShare Advisors LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

ProShare Advisors LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,346,667 shares of the biopharmaceutical company’s stock after selling 134,320 shares during the quarter. ProShare Advisors LLC owned 0.11% of Gilead Sciences worth $92,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Profund Advisors LLC grew its position in Gilead Sciences by 23.9% in the 2nd quarter. Profund Advisors LLC now owns 159,400 shares of the biopharmaceutical company’s stock worth $10,936,000 after purchasing an additional 30,738 shares during the period. Kowal Investment Group LLC grew its holdings in shares of Gilead Sciences by 4.2% in the second quarter. Kowal Investment Group LLC now owns 4,384 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 176 shares during the period. Summit Trail Advisors LLC increased its position in Gilead Sciences by 37.7% during the second quarter. Summit Trail Advisors LLC now owns 17,105 shares of the biopharmaceutical company’s stock valued at $1,174,000 after acquiring an additional 4,683 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Gilead Sciences by 140.7% in the second quarter. Thrivent Financial for Lutherans now owns 2,159,356 shares of the biopharmaceutical company’s stock worth $148,153,000 after purchasing an additional 1,262,193 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Activity at Gilead Sciences

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.06.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $83.94 on Friday. The company has a market cap of $104.58 billion, a P/E ratio of 233.17, 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. 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 firm’s fifty day moving average is $76.95 and its two-hundred day moving average is $71.25.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

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.