Quest Partners LLC Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Quest Partners LLC reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 75.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,189 shares of the biopharmaceutical company’s stock after selling 9,906 shares during the quarter. Quest Partners LLC’s holdings in Gilead Sciences were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GILD. Norges Bank purchased a new position in Gilead Sciences during the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company increased its holdings in Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. increased its holdings in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP increased its holdings in Gilead Sciences by 14.4% during 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 acquiring an additional 2,350,550 shares in the last quarter. Finally, Swedbank AB purchased a new position in Gilead Sciences during the 1st quarter valued at about $134,489,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the business’s 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s 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 transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,002,940 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.5 %

Shares of GILD stock opened at $82.81 on Friday. The stock has a market cap of $103.10 billion, a price-to-earnings ratio of 230.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm’s 50 day moving average price is $75.48 and its two-hundred day moving average price is $70.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share 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 analysts’ expectations of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.72%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Analyst Ratings Changes

Several equities analysts have weighed in on GILD shares. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.