Apollon Wealth Management LLC Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Apollon Wealth Management LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,275 shares of the biopharmaceutical company’s stock after selling 5,711 shares during the period. Apollon Wealth Management LLC’s holdings in Gilead Sciences were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GILD. Norges Bank purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 purchasing an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 2,350,550 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at $134,489,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.67 during trading on Monday, reaching $74.45. 3,727,596 shares of the company’s stock traded hands, compared to its average volume of 7,298,753. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The firm has a market cap of $92.75 billion, a PE ratio of 206.81, a P/E/G ratio of 3.37 and a beta of 0.18. The company has a 50-day simple moving average of $70.80 and a 200-day simple moving average of $70.20.

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 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

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 transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research analyst reports. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Barclays reduced their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. TD Cowen reduced their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. BMO Capital Markets raised their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a research note on Wednesday, April 24th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.94.

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.