Glenmede Trust Co. NA Sells 34,711 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Glenmede Trust Co. NA lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 292,048 shares of the biopharmaceutical company’s stock after selling 34,711 shares during the period. Glenmede Trust Co. NA’s holdings in Gilead Sciences were worth $24,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. nVerses Capital LLC bought a new position in shares of Gilead Sciences in the third quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake 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 acquiring an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the second quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Gilead Sciences by 51.6% in the second 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 during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $92.41 on Thursday. The company has a 50 day moving average price of $87.91 and a 200 day moving average price of $77.42. The firm has a market capitalization of $115.17 billion, a P/E ratio of 1,026.78, a PEG ratio of 2.81 and a beta of 0.17. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $7.01 billion. During the same quarter last year, the company posted $2.29 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analyst Upgrades and Downgrades

GILD has been the topic of several research reports. Oppenheimer raised their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Cantor Fitzgerald raised their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Mizuho upped their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,735 shares of company stock worth $5,589,030 over the last three months. 0.29% of the stock is currently owned by insiders.

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.