The Manufacturers Life Insurance Company Sells 260,875 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

The Manufacturers Life Insurance Company decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,342,411 shares of the biopharmaceutical company’s stock after selling 260,875 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.51% of Gilead Sciences worth $531,748,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GILD. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth about $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the period. CarsonAllaria Wealth Management Ltd. grew its stake in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter valued at $33,000. Finally, Cedar Wealth Management LLC grew its position in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GILD. Oppenheimer increased their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Wolfe Research assumed coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective on the stock. Finally, Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $90.49 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company has a 50 day simple moving average of $87.58 and a two-hundred day simple moving average of $77.13. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a market capitalization of $112.77 billion, a price-to-earnings ratio of 1,005.44, a P/E/G ratio of 2.80 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. Analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 in the last three months. Insiders own 0.29% of the company’s stock.

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.