Chevy Chase Trust Holdings LLC Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the second quarter, HoldingsChannel.com reports. The fund owned 685,576 shares of the biopharmaceutical company’s stock after selling 9,759 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Gilead Sciences were worth $47,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $29,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at about $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $30,000. Gladius Capital Management LP purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $34,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $0.25 during trading on Wednesday, reaching $75.00. 1,131,511 shares of the stock traded hands, compared to its average volume of 7,237,656. The company has a market capitalization of $93.44 billion, a price-to-earnings ratio of 207.64, a P/E/G ratio of 3.37 and a beta of 0.18. The business has a fifty day simple moving average of $71.18 and a two-hundred day simple moving average of $70.16. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 4.11%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Gilead Sciences news, 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 value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GILD shares. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday, April 24th. Morgan Stanley dropped their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, TD Cowen dropped their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.94.

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, 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.