Zhang Financial LLC Sells 3,576 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Zhang Financial LLC reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 23.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,635 shares of the biopharmaceutical company’s stock after selling 3,576 shares during the quarter. Zhang Financial LLC’s holdings in Gilead Sciences were worth $798,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in Gilead Sciences in the second quarter valued at approximately $25,328,000. Charles Schwab Investment Management Inc. increased its holdings in Gilead Sciences by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after purchasing an additional 87,482 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Gilead Sciences in the fourth quarter valued at about $74,000. Eagle Asset Management Inc. boosted its stake in shares of Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after purchasing an additional 60,697 shares in the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of Gilead Sciences by 6.2% during the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after purchasing an additional 37,069 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on GILD. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Friday, August 9th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a research note on Wednesday, April 24th. Truist Financial increased their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada lifted their target price on Gilead Sciences from $71.00 to $72.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. Finally, BMO Capital Markets upped their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.94.

Gilead Sciences Trading Up 0.9 %

NASDAQ:GILD opened at $74.45 on Tuesday. 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 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $92.75 billion, a price-to-earnings ratio of 206.81, a PEG ratio of 3.37 and a beta of 0.18. The firm has a fifty day simple moving average of $70.98 and a two-hundred day simple moving average of $70.17.

Gilead Sciences Announces Dividend

The company also recently announced 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. This represents a $3.08 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on 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 $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

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.