BI Asset Management Fondsmaeglerselskab A S Sells 7,193 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 492,561 shares of the biopharmaceutical company’s stock after selling 7,193 shares during the quarter. Gilead Sciences makes up 1.1% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 15th largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Gilead Sciences were worth $40,868,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Gilead Sciences by 9.2% in the 1st quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock worth $3,446,000 after buying an additional 4,877 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Gilead Sciences by 3.9% in the 1st quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock worth $26,660,000 after buying an additional 16,643 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Gilead Sciences by 44.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 2,654 shares during the period. Donaldson Capital Management LLC lifted its holdings in shares of Gilead Sciences by 12.5% in the 1st quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 641 shares during the period. Finally, Ergoteles LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter worth $2,304,000. Institutional investors own 82.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GILD. StockNews.com began coverage on Gilead Sciences in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Royal Bank of Canada upped their price objective on Gilead Sciences from $83.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Piper Sandler decreased their price objective on Gilead Sciences from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, July 24th. Morgan Stanley upped their price objective on Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, Barclays decreased their price objective on Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, July 24th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.50.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded down $0.59 on Wednesday, reaching $77.62. The company’s stock had a trading volume of 1,734,589 shares, compared to its average volume of 5,762,881. The company has a market capitalization of $96.72 billion, a P/E ratio of 17.86, a PEG ratio of 0.87 and a beta of 0.37. Gilead Sciences, Inc. has a 52-week low of $61.44 and a 52-week high of $89.74. The stock has a 50-day moving average price of $77.39 and a 200-day moving average price of $79.44. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.07.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.30). The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. Analysts expect that Gilead Sciences, Inc. will post 6.63 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is 68.97%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 107,587 shares in the company, valued at $8,606,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 1,485 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total transaction of $114,196.50. Following the transaction, the insider now owns 29,402 shares of the company’s stock, valued at $2,261,013.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now directly owns 107,587 shares in the company, valued at approximately $8,606,960. The disclosure for this sale can be found here. 0.21% 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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.