Marco Investment Management LLC Sells 450 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Marco Investment Management LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,151 shares of the biopharmaceutical company’s stock after selling 450 shares during the quarter. Marco Investment Management LLC’s holdings in Gilead Sciences were worth $1,857,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in Gilead Sciences during the second quarter worth about $25,328,000. Legal & General Group Plc raised its position 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 acquiring an additional 93,068 shares during the period. IRON Financial LLC bought a new position in Gilead Sciences during the 3rd quarter worth approximately $830,000. Wealth Enhancement Advisory Services LLC grew its holdings in Gilead Sciences by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after purchasing an additional 33,162 shares during the period. Finally, Cetera Investment Advisers increased its stake in Gilead Sciences by 127.6% in the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after purchasing an additional 119,909 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wolfe Research started coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. Truist Financial increased their price target on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $96.00 in a report on Monday, October 21st. Finally, Barclays increased their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twelve 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 stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Trading Up 0.5 %

Shares of Gilead Sciences stock opened at $90.19 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a market capitalization of $112.40 billion, a price-to-earnings ratio of 1,002.11, a P/E/G ratio of 2.78 and a beta of 0.17. The business has a fifty day simple moving average of $87.43 and a two-hundred day simple moving average of $76.86. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.42%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on 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 in the company, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last ninety days. 0.16% of the stock is owned by company 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.