The Manufacturers Life Insurance Company Sells 148,344 Shares of Gilead Sciences, Inc. $GILD

The Manufacturers Life Insurance Company decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,093,987 shares of the biopharmaceutical company’s stock after selling 148,344 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Gilead Sciences worth $138,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GILD. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 4th quarter valued at approximately $25,000. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences in the 2nd quarter worth $25,000. Kimelman & Baird LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter worth $25,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Gilead Sciences by 71.4% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 85 shares during the last quarter. Finally, Quattro Advisors LLC purchased a new position in shares of Gilead Sciences in the fourth quarter worth $26,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.8%

Shares of GILD stock opened at $143.72 on Friday. The stock has a fifty day simple moving average of $138.48 and a two-hundred day simple moving average of $136.29. The firm has a market capitalization of $178.21 billion, a PE ratio of -53.83 and a beta of 0.33. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the previous year, the firm earned $2.01 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s payout ratio is -122.85%.

Analyst Ratings Changes

GILD has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Morgan Stanley lowered their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Zacks Research upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Finally, Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.78.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares in the company, valued at approximately $16,273,727.76. This represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O’Day sold 15,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the transaction, the chief executive officer directly owned 592,133 shares of the company’s stock, valued at $77,160,851.23. The trade was a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 105,000 shares of company stock valued at $14,495,820. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.