Gilead Sciences, Inc. (NASDAQ:GILD) Stake Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,424 shares of the biopharmaceutical company’s stock after selling 26,713 shares during the period. Manning & Napier Advisors LLC’s holdings in Gilead Sciences were worth $33,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after acquiring an additional 2,450 shares during the period. Venturi Wealth Management LLC increased its stake in Gilead Sciences by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,658 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 1,165 shares during the period. Global Retirement Partners LLC increased its stake in Gilead Sciences by 2.2% during the fourth quarter. Global Retirement Partners LLC now owns 8,982 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 194 shares during the period. Bell Bank increased its position in shares of Gilead Sciences by 4.9% during the fourth quarter. Bell Bank now owns 118,187 shares of the biopharmaceutical company’s stock valued at $10,917,000 after purchasing an additional 5,546 shares during the period. Finally, Oxbow Advisors LLC increased its position in shares of Gilead Sciences by 0.6% during the fourth quarter. Oxbow Advisors LLC now owns 71,941 shares of the biopharmaceutical company’s stock valued at $6,645,000 after purchasing an additional 450 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $275,425.00. Following the transaction, the chief financial officer now owns 165,110 shares of the company’s stock, valued at approximately $18,190,168.70. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider now directly owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock worth $5,236,245 over the last 90 days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Wells Fargo & Company upped their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $110.55.

Gilead Sciences Stock Up 0.5%

Shares of NASDAQ:GILD opened at $108.50 on Friday. Gilead Sciences, Inc. has a 12 month low of $66.01 and a 12 month high of $119.96. The company’s 50-day moving average price is $106.16 and its two-hundred day moving average price is $102.81. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market cap of $134.97 billion, a P/E ratio of 22.84, a P/E/G ratio of 0.70 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. Gilead Sciences’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.32) earnings per share. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.91%. Gilead Sciences’s payout ratio is 66.53%.

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.