Mercer Global Advisors Inc. ADV Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 34.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,698 shares of the biopharmaceutical company’s stock after selling 124,073 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Gilead Sciences were worth $15,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. Palisade Asset Management LLC bought a new position in Gilead Sciences in the first quarter worth about $29,000. Sachetta LLC purchased a new stake in Gilead Sciences in the fourth quarter worth about $30,000. Financial Connections Group Inc. purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $34,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Gilead Sciences in the 4th quarter worth approximately $36,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

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

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share 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 analysts’ expectations 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 year.

Gilead Sciences Dividend Announcement

The firm also recently declared 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 payout ratio is currently 855.56%.

Wall Street Analyst Weigh In

GILD has been the topic of several research reports. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. Truist Financial increased their price target 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. Royal Bank of Canada boosted 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 for the company in a research note on Monday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Transactions at Gilead Sciences

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

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.