Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 369,179 shares of the biopharmaceutical company’s stock after selling 1,705 shares during the period. Gilead Sciences comprises 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 27th largest position. Meyer Handelman Co.’s holdings in Gilead Sciences were worth $34,101,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GILD. State Street Corp increased its holdings in shares of Gilead Sciences by 1.4% in the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after acquiring an additional 841,776 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. FMR LLC raised its holdings in shares of Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Geode Capital Management LLC lifted its position in shares of Gilead Sciences by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after buying an additional 574,421 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GILD. Royal Bank of Canada reissued a “sector perform” rating and issued a $84.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, Truist Financial upped their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 8,500 shares of Gilead Sciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the transaction, the chief financial officer now owns 132,373 shares of the company’s stock, valued at $12,173,021.08. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,734 shares of company stock valued at $41,902,086. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $91.00 on Wednesday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The firm has a 50-day moving average of $91.96 and a two-hundred day moving average of $83.69. The firm has a market capitalization of $113.41 billion, a PE ratio of 1,011.11, a P/E/G ratio of 2.24 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.38%. Gilead Sciences’s dividend payout ratio is 3,422.22%.

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.