King Luther Capital Management Corp Sells 3,753 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

King Luther Capital Management Corp lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 25.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,285 shares of the biopharmaceutical company’s stock after selling 3,753 shares during the period. King Luther Capital Management Corp’s holdings in Gilead Sciences were worth $774,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Canada Pension Plan Investment Board grew its position in Gilead Sciences by 91.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,699,863 shares of the biopharmaceutical company’s stock worth $185,238,000 after acquiring an additional 1,289,420 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Gilead Sciences by 3.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 346,660 shares of the biopharmaceutical company’s stock worth $23,784,000 after purchasing an additional 11,890 shares during the period. Ieq Capital LLC lifted its position in Gilead Sciences by 3.7% in the second quarter. Ieq Capital LLC now owns 69,215 shares of the biopharmaceutical company’s stock valued at $4,749,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC purchased a new stake in shares of Gilead Sciences during the second quarter valued at approximately $3,774,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

NASDAQ:GILD opened at $83.94 on Monday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a market capitalization of $104.58 billion, a PE ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18. The firm’s 50-day moving average price is $76.95 and its 200-day moving average price is $71.24. 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 (NASDAQ:GILD) last announced its 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on GILD shares. Truist Financial lifted their target price 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 company a “sector perform” rating in a research report on Wednesday, September 4th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a report 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The sale 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 stock in a transaction 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 sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock valued at $3,002,940. Insiders own 0.16% of the company’s stock.

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.