Nexus Investment Management ULC Sells 5,355 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Nexus Investment Management ULC trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,063 shares of the biopharmaceutical company’s stock after selling 5,355 shares during the quarter. Gilead Sciences accounts for 2.3% of Nexus Investment Management ULC’s portfolio, making the stock its 23rd biggest holding. Nexus Investment Management ULC’s holdings in Gilead Sciences were worth $23,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the second quarter worth $33,000. Cedar Wealth Management LLC lifted 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 purchasing an additional 160 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Gilead Sciences in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $85.82 on Wednesday. The firm has a 50-day moving average price of $80.31 and a two-hundred day moving average price of $72.51. The company has a market capitalization of $106.92 billion, a P/E ratio of 238.39, a P/E/G ratio of 2.98 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.59%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 over the last three months. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GILD. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research report on Monday, September 16th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $84.83.

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.