Nordea Investment Management AB reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 29.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,712,601 shares of the biopharmaceutical company’s stock after selling 711,076 shares during the period. Nordea Investment Management AB owned 0.13% of Gilead Sciences worth $116,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock valued at $402,319,000 after buying an additional 849,741 shares in the last quarter. Swiss National Bank increased its stake in shares of Gilead Sciences by 26.9% in the first quarter. Swiss National Bank now owns 4,668,124 shares of the biopharmaceutical company’s stock valued at $317,059,000 after buying an additional 989,400 shares in the last quarter. Finally, C WorldWide Group Holding A S increased its stake in shares of Gilead Sciences by 9.1% in the first quarter. C WorldWide Group Holding A S now owns 3,994,431 shares of the biopharmaceutical company’s stock valued at $271,302,000 after buying an additional 332,177 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) traded down 0.9677% during trading on Friday, reaching $82.8999. 6,565,967 shares of the company’s stock were exchanged. Gilead Sciences, Inc. has a 52-week low of $63.76 and a 52-week high of $84.13. The company has a 50 day moving average price of $74.02 and a 200-day moving average price of $69.18. The company has a market capitalization of $108.26 billion, a PE ratio of 9.0040 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.08 earnings per share. On average, equities analysts forecast that Gilead Sciences, Inc. will post $8.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a $0.52 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.48%. Gilead Sciences’s payout ratio is currently 22.58%.

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Several analysts have recently weighed in on GILD shares. William Blair restated an “outperform” rating on shares of Gilead Sciences in a research note on Friday, June 16th. Morgan Stanley restated an “equal weight” rating on shares of Gilead Sciences in a research note on Tuesday, July 11th. Robert W. Baird restated an “outperform” rating and set a $87.00 target price on shares of Gilead Sciences in a research note on Tuesday. Credit Suisse Group restated an “outperform” rating and set a $79.00 target price on shares of Gilead Sciences in a research note on Friday, May 5th. Finally, Leerink Swann restated a “hold” rating and set a $74.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $82.09.

In related news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total value of $1,138,200.00. Following the sale, the executive vice president now owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the completion of the sale, the insider now directly owns 3,199,969 shares in the company, valued at approximately $227,197,799. The disclosure for this sale can be found here. In the last three months, insiders sold 206,666 shares of company stock worth $15,223,184. 1.30% of the stock is currently owned by insiders.

About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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