Glenmede Trust Co. NA Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Glenmede Trust Co. NA lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,048 shares of the biopharmaceutical company’s stock after selling 34,711 shares during the quarter. Glenmede Trust Co. NA’s holdings in Gilead Sciences were worth $24,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Kennedy Capital Management LLC purchased a new stake in Gilead Sciences in the first quarter worth approximately $2,946,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Gilead Sciences by 2.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,519 shares of the biopharmaceutical company’s stock worth $2,137,000 after buying an additional 604 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Gilead Sciences by 16.2% in the first quarter. Atria Investments Inc now owns 89,515 shares of the biopharmaceutical company’s stock worth $6,557,000 after acquiring an additional 12,507 shares during the period. Cetera Investment Advisers increased its position in Gilead Sciences by 127.6% during the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after acquiring an additional 119,909 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Gilead Sciences by 167.2% in the first quarter. Cetera Advisors LLC now owns 82,786 shares of the biopharmaceutical company’s stock valued at $6,064,000 after acquiring an additional 51,801 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Up 1.2 %

GILD opened at $92.41 on Thursday. The company has a market capitalization of $115.17 billion, a PE ratio of 1,026.78, a price-to-earnings-growth ratio of 2.81 and a beta of 0.17. The firm has a 50-day simple moving average of $87.91 and a two-hundred day simple moving average of $77.42. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. 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 results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. Analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,735 shares of company stock worth $5,589,030 over the last 90 days. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada boosted their price target on Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Monday, November 18th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target on the stock. UBS Group boosted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Oppenheimer raised their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

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.