New England Research & Management Inc. Sells 587 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

New England Research & Management Inc. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the biopharmaceutical company’s stock after selling 587 shares during the period. New England Research & Management Inc.’s holdings in Gilead Sciences were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares in the last quarter. Capital World Investors grew its stake in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $0.16 during trading on Monday, hitting $84.43. 4,688,708 shares of the stock were exchanged, compared to its average volume of 7,208,330. The stock’s fifty day moving average is $79.06 and its 200 day moving average is $71.90. The stock has a market cap of $105.19 billion, a PE ratio of 234.53, a P/E/G ratio of 2.91 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.65%. Gilead Sciences’s dividend payout ratio is 855.56%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a report on Friday. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $100.00 in a research report on Monday. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on 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 directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is owned by company insiders.

Gilead Sciences Company 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.