Krane Funds Advisors LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Krane Funds Advisors LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 91.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 512 shares of the biopharmaceutical company’s stock after selling 5,413 shares during the period. Krane Funds Advisors LLC’s holdings in Gilead Sciences were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GILD. Bleakley Financial Group LLC lifted its stake in Gilead Sciences by 9.2% during the third quarter. Bleakley Financial Group LLC now owns 23,070 shares of the biopharmaceutical company’s stock worth $1,934,000 after purchasing an additional 1,947 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Gilead Sciences by 11.9% during the third quarter. Global Retirement Partners LLC now owns 8,788 shares of the biopharmaceutical company’s stock worth $737,000 after purchasing an additional 933 shares in the last quarter. Good Life Advisors LLC lifted its position in shares of Gilead Sciences by 161.3% during the 3rd quarter. Good Life Advisors LLC now owns 11,616 shares of the biopharmaceutical company’s stock worth $974,000 after buying an additional 7,171 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. Finally, Probity Advisors Inc. lifted its position in Gilead Sciences by 10.9% in the third quarter. Probity Advisors Inc. now owns 15,202 shares of the biopharmaceutical company’s stock valued at $1,275,000 after acquiring an additional 1,496 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 0.7 %

GILD opened at $87.36 on Friday. The business has a 50-day moving average of $80.80 and a two-hundred day moving average of $72.71. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The stock has a market capitalization of $108.84 billion, a price-to-earnings ratio of 242.67, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. On average, research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on GILD shares. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Finally, Barclays upped their price objective 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. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.37.

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.