Gilead Sciences, Inc. (NASDAQ:GILD) Stake Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,717 shares of the biopharmaceutical company’s stock after selling 15,237 shares during the quarter. Ritholtz Wealth Management’s holdings in Gilead Sciences were worth $3,068,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Capital World Investors raised its stake in shares of Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Gilead Sciences by 2.7% in the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares during the period. Wellington Management Group LLP grew its holdings in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Finally, Norges Bank acquired a new stake in Gilead Sciences in the 4th quarter valued at about $1,301,624,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s 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 transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird reissued a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. BMO Capital Markets boosted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note 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 on the stock in a research report on Monday, July 8th. Finally, Royal Bank of Canada increased their price target on shares of Gilead Sciences from $71.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. Twelve research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.94.

Gilead Sciences Stock Down 0.6 %

NASDAQ GILD opened at $79.00 on Monday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The stock has a market cap of $98.35 billion, a PE ratio of 219.44, a PEG ratio of 2.74 and a beta of 0.18. The firm has a 50-day simple moving average of $73.10 and a 200 day simple moving average of $70.31. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14.

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

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

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.