Intech Investment Management LLC Sells 141,024 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Intech Investment Management LLC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,106 shares of the biopharmaceutical company’s stock after selling 141,024 shares during the period. Intech Investment Management LLC’s holdings in Gilead Sciences were worth $30,225,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tompkins Financial Corp grew its holdings in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Fortitude Family Office LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Sachetta LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. acquired a new stake in Gilead Sciences in the 4th quarter valued at about $33,000. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho cut their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. UBS Group cut their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company cut their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Finally, Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.69.

Gilead Sciences Trading Down 0.7 %

Shares of NASDAQ:GILD traded down $0.49 during mid-day trading on Friday, reaching $65.68. 5,971,044 shares of the company’s stock were exchanged, compared to its average volume of 6,600,837. The firm has a market capitalization of $81.83 billion, a price-to-earnings ratio of 182.44, a PEG ratio of 1.31 and a beta of 0.22. The business’s fifty day moving average price is $68.45 and its 200-day moving average price is $74.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. Gilead Sciences, Inc. has a twelve month low of $64.33 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 3.74 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.69%. Gilead Sciences’s payout ratio is 855.56%.

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.