Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by SouthState Corp

SouthState Corp cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,010 shares of the biopharmaceutical company’s stock after selling 2,584 shares during the period. SouthState Corp’s holdings in Gilead Sciences were worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares during the last quarter. Capital Research Global Investors raised its position in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after buying an additional 1,589,240 shares during the last quarter. Legal & General Group Plc lifted its stake in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after acquiring an additional 93,068 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after acquiring an additional 268,208 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after acquiring an additional 1,564,792 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $87.75 on Wednesday. The firm has a 50-day simple moving average of $86.99 and a 200-day simple moving average of $76.44. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $109.36 billion, a price-to-earnings ratio of 975.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.17. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, equities analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Analyst Ratings Changes

A number of research firms recently issued reports on GILD. Cantor Fitzgerald boosted their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Monday. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 in the last three months. 0.29% of the stock is currently owned by insiders.

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.