Royal Fund Management LLC Has $1.34 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Royal Fund Management LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,563 shares of the biopharmaceutical company’s stock after selling 2,877 shares during the quarter. Royal Fund Management LLC’s holdings in Gilead Sciences were worth $1,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Gilead Sciences in the 4th quarter worth about $1,301,624,000. The Manufacturers Life Insurance Company increased its stake in shares of Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after buying an additional 3,362,505 shares during the period. Vanguard Group Inc. raised its holdings in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP boosted its position in Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the period. Finally, Swedbank AB bought a new stake in Gilead Sciences during the 1st quarter worth approximately $134,489,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’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 sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction 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 transaction, 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. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Down 0.8 %

GILD stock traded down $0.56 during trading on Friday, reaching $73.78. The stock had a trading volume of 5,148,098 shares, compared to its average volume of 7,321,358. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $91.92 billion, a price-to-earnings ratio of 204.94, a P/E/G ratio of 3.37 and a beta of 0.18. The company’s 50 day moving average is $70.80 and its two-hundred day moving average is $70.31. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analyst Ratings Changes

A number of equities research analysts have commented on GILD shares. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Maxim Group decreased their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Truist Financial boosted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday, April 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.94.

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.