AMF Tjanstepension AB Sells 30,389 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• AMF Tjanstepension AB reduced its holdings in Gilead Sciences by 7.6%, selling 30,389 shares during the first quarter, bringing its stake to 370,430 shares valued at approximately $41.5 million.
• A significant **majority** of Gilead's stock, 83.67%, is currently owned by institutional investors, highlighting strong institutional interest in the biopharmaceutical company.
• Gilead Sciences reported **$2.01 earnings per share** for the last quarter, surpassing analysts' expectations, with revenues of **$7.08 billion**, reflecting a year-over-year growth of 1.4%.

AMF Tjanstepension AB lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,430 shares of the biopharmaceutical company's stock after selling 30,389 shares during the quarter. AMF Tjanstepension AB's holdings in Gilead Sciences were worth $41,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GILD. Brighton Jones LLC grew its stake in shares of 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 purchasing an additional 2,450 shares during the period. Trexquant Investment LP acquired a new position in Gilead Sciences during the fourth quarter worth approximately $523,000. Rathbones Group PLC increased its position in Gilead Sciences by 3.8% during the fourth quarter. Rathbones Group PLC now owns 3,395 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 125 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Gilead Sciences by 10.9% in the fourth quarter. Bessemer Group Inc. now owns 97,167 shares of the biopharmaceutical company's stock valued at $8,974,000 after purchasing an additional 9,573 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in shares of Gilead Sciences by 9.5% in the fourth quarter. Scotia Capital Inc. now owns 162,749 shares of the biopharmaceutical company's stock valued at $15,033,000 after buying an additional 14,125 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.8%

GILD stock traded down $0.93 during trading on Tuesday, reaching $119.54. The company had a trading volume of 2,441,456 shares, compared to its average volume of 8,381,144. Gilead Sciences, Inc. has a 52 week low of $72.67 and a 52 week high of $121.83. The company has a market cap of $148.33 billion, a P/E ratio of 23.81, a PEG ratio of 0.75 and a beta of 0.33. The business has a 50 day moving average of $111.16 and a 200 day moving average of $107.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. Gilead Sciences's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GILD shares. Cantor Fitzgerald began coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Royal Bank Of Canada raised their target price on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research note on Friday, July 25th. Oppenheimer cut their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley boosted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and an average target price of $114.82.

Insider Activity at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the transaction, the chief executive officer owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the sale, the chief financial officer owned 162,610 shares in the company, valued at $18,054,588.30. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,000 shares of company stock worth $8,984,175. Company insiders own 0.27% of the company's stock.

About Gilead Sciences

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.