FDx Advisors Inc. Sells 591 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

FDx Advisors Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,248 shares of the biopharmaceutical company’s stock after selling 591 shares during the quarter. FDx Advisors Inc.’s holdings in Gilead Sciences were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. raised its position in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. Private Wealth Management Group LLC bought a new position in shares of Gilead Sciences during the fourth quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences during the first quarter valued at about $29,000. Sachetta LLC purchased a new position in shares of Gilead Sciences in the fourth quarter worth about $30,000. Finally, Gladius Capital Management LP bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $34,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $78.77 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market capitalization of $98.14 billion, a price-to-earnings ratio of 218.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The company’s 50-day moving average is $73.86 and its 200 day moving average is $70.52.

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

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.91%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GILD shares. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Monday, July 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Friday, August 9th. Truist Financial increased their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. BMO Capital Markets boosted their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve 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 company. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Insider Activity

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

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.