Victory Capital Management Inc. Sells 468,814 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Victory Capital Management Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,561,612 shares of the biopharmaceutical company’s stock after selling 468,814 shares during the quarter. Victory Capital Management Inc. owned about 0.21% of Gilead Sciences worth $214,766,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GILD. nVerses Capital LLC purchased a new stake in Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 101.9% in the third 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 in the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings 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 acquiring an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences in the second quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC grew its position in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 0.6 %

GILD traded down $0.60 during trading on Tuesday, reaching $96.43. The company had a trading volume of 1,546,287 shares, compared to its average volume of 7,023,962. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.11. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a market cap of $120.05 billion, a price-to-earnings ratio of 1,078.11, a PEG ratio of 3.36 and a beta of 0.17. The firm’s 50-day simple moving average is $85.66 and its 200 day simple moving average is $75.37.

Gilead Sciences (NASDAQ:GILD) last issued 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 analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. Equities research analysts anticipate that Gilead Sciences, Inc. will post 4.34 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is presently 3,422.22%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction 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 approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the subject of a number of recent research reports. Barclays increased their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Finally, Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.