300,000 Gilead Sciences, Inc. $GILD Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Key Points

• Migdal Insurance & Financial Holdings cut its Gilead stake by 49.7% in the third quarter, selling 300,000 shares and ending the period with 304,000 shares valued at about $45.3 million.
• Gilead reported quarterly earnings of $2.55 per share and revenue of $8.30 billion, beating analyst estimates; revenue rose 6.8% year over year.
• The company declared a quarterly dividend of $0.82 per share, equivalent to an annualized yield of about 2%. Analysts surveyed had a consensus “Moderate Buy” rating and a $171.07 price target.

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 49.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,000 shares of the biopharmaceutical company's stock after selling 300,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Gilead Sciences were worth $45,311,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GILD. BlackRock Inc. bought a new stake in Gilead Sciences during the 2nd quarter worth approximately $15,393,785,000. State Street Corp increased its position in Gilead Sciences by 2.3% in the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company's stock valued at $7,734,099,000 after acquiring an additional 1,357,967 shares during the period. Amundi raised its stake in shares of Gilead Sciences by 10.7% during the first quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company's stock valued at $1,468,836,000 after acquiring an additional 1,018,976 shares during the last quarter. Legal & General Group Plc bought a new position in Gilead Sciences during the 2nd quarter worth $1,316,606,000. Finally, Deutsche Bank AG bought a new position in Gilead Sciences during the 2nd quarter worth $918,387,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Up 0.1%

GILD traded up $0.13 during trading on Friday, reaching $168.08. 3,637,311 shares of the stock traded hands, compared to its average volume of 6,772,945. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $208.48 billion, a PE ratio of -53.19 and a beta of 0.35. The stock's 50-day moving average is $155.10 and its 200 day moving average is $141.80. Gilead Sciences, Inc. has a 12 month low of $116.88 and a 12 month high of $176.58.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative return on equity of 1.85% and a negative net margin of 12.47%. The firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.81 billion. During the same period last year, the company posted $2.47 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts anticipate that Gilead Sciences, Inc. will post -0.98 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.0%. Gilead Sciences's dividend payout ratio is presently -103.80%.

Insiders Place Their Bets

In other Gilead Sciences news, EVP Wettan Keeley M. Cain sold 3,399 shares of the business's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $164.11, for a total value of $557,809.89. Following the transaction, the executive vice president directly owned 5,360 shares of the company's stock, valued at approximately $879,629.60. The trade was a 38.81% decrease in their ownership of the stock. The sale was disclosed in a 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, CFO Andrew D. Dickinson sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $156.22, for a total value of $468,660.00. Following the completion of the transaction, the chief financial officer directly owned 161,096 shares in the company, valued at approximately $25,166,417.12. This trade represents a 1.83% 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. Insiders have sold 242,709 shares of company stock worth $39,503,427 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Key Stories Impacting Gilead Sciences

These are some of the GILD stories that stood out recently:

• Positive Sentiment: Coverage points to momentum in Gilead’s HIV franchise: Yeztugo sales are described as surging, Biktarvy remains a market leader, and the expanding pipeline could support longer-term growth. Read More..
• Neutral Sentiment: Gilead announced a partnership with TelevisaUnivision to promote HIV-prevention awareness at the Latin GRAMMY Awards. It may build awareness, but the announcement does not specify a direct near-term financial impact. Read More..
• Neutral Sentiment: A broader pharmaceutical-stock article highlighted Gilead’s dividend and pipeline as defensive attributes, but offered no company-specific new financial or operating catalyst. Read More..

Analysts Set New Price Targets

GILD has been the topic of several recent research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $184.00 target price on shares of Gilead Sciences in a report on Friday, October 30th. Barclays decreased their price target on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. TD Cowen raised their price objective on Gilead Sciences from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Argus set a $190.00 price objective on Gilead Sciences in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on Gilead Sciences from $163.00 to $183.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Twenty-three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $171.07.

Gilead Sciences Company Profile

Gilead Sciences, Inc. is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C. Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.

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