Nexus Investment Management ULC Reduces Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Nexus Investment Management ULC cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 283,063 shares of the biopharmaceutical company’s stock after selling 5,355 shares during the period. Gilead Sciences accounts for 2.3% of Nexus Investment Management ULC’s holdings, making the stock its 23rd biggest position. Nexus Investment Management ULC’s holdings in Gilead Sciences were worth $23,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Roberts Wealth Advisors LLC increased its position in Gilead Sciences by 1.9% during the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after purchasing an additional 130 shares during the last quarter. Bill Few Associates Inc. lifted its stake in Gilead Sciences by 6.3% in the third quarter. Bill Few Associates Inc. now owns 3,954 shares of the biopharmaceutical company’s stock worth $332,000 after acquiring an additional 234 shares during the last quarter. Jamison Private Wealth Management Inc. raised its holdings in Gilead Sciences by 3.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 26,436 shares of the biopharmaceutical company’s stock worth $2,216,000 after purchasing an additional 816 shares in the last quarter. Asset Dedication LLC raised its holdings in Gilead Sciences by 7.5% during the third quarter. Asset Dedication LLC now owns 4,481 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 314 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Gilead Sciences by 10.2% in the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock valued at $171,672,000 after acquiring an additional 189,622 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on GILD shares. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Barclays increased their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $84.83.

Gilead Sciences Stock Up 0.9 %

GILD stock opened at $85.82 on Wednesday. The firm has a 50-day moving average price of $80.31 and a 200-day moving average price of $72.51. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $106.92 billion, a P/E ratio of 238.39, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was 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 in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

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.