ICICI Prudential Asset Management Co Ltd Has $10.90 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

ICICI Prudential Asset Management Co Ltd decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,977 shares of the biopharmaceutical company’s stock after selling 11,934 shares during the period. Gilead Sciences comprises approximately 1.2% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 16th biggest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Gilead Sciences were worth $10,897,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during 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 in the last quarter. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at about $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $1.20 during trading hours on Wednesday, reaching $93.15. 1,996,020 shares of the stock traded hands, compared to its average volume of 7,034,859. The company has a 50 day moving average price of $85.95 and a 200 day moving average price of $75.57. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $115.97 billion, a price-to-earnings ratio of 1,048.33, a P/E/G ratio of 3.01 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating 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 period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share 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. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.31%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein started coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Finally, BMO Capital Markets boosted their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $91.50.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,947 shares of company stock worth $4,968,674. 0.29% of the stock is owned by corporate insiders.

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.