Fisher Asset Management LLC Sells 4,254 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Fisher Asset Management LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 32.2% in the 3rd quarter, Holdings Channel reports. The fund owned 8,950 shares of the biopharmaceutical company’s stock after selling 4,254 shares during the quarter. Fisher Asset Management LLC’s holdings in Gilead Sciences were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GILD. Avior Wealth Management LLC increased its holdings in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares in the last quarter. Concord Asset Management LLC VA raised its position in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 111 shares during the last quarter. TFB Advisors LLC lifted its stake in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,946 shares of company stock worth $20,683,305 over the last three months. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $92.58 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a market cap of $115.38 billion, a P/E ratio of 1,028.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.17. The business’s 50 day moving average is $88.26 and its 200-day moving average is $77.76. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

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 company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. Equities research analysts predict that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Analyst Ratings Changes

GILD has been the topic of a number of research reports. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group increased their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. 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 company. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $95.41.

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.