Andra AP fonden Sells 11,400 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Andra AP fonden reduced its Gilead Sciences stake by 5.1%, selling 11,400 shares and retaining 211,201 shares valued at approximately $26.7 million. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly revenue of $7.8 billion, up 10.6% year over year and above estimates, while adjusted EPS of negative $6.75 still beat consensus expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $158.78 price target. Gilead also announced a quarterly dividend of $0.82 per share, representing a 2.2% yield.

Andra AP fonden decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 211,201 shares of the biopharmaceutical company's stock after selling 11,400 shares during the quarter. Andra AP fonden's holdings in Gilead Sciences were worth $26,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised 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 buying an additional 1,357,967 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Gilead Sciences in the 2nd quarter worth $63,000. Anchor Investment Management LLC raised its holdings in shares of Gilead Sciences by 843.7% in the second quarter. Anchor Investment Management LLC now owns 2,831 shares of the biopharmaceutical company's stock valued at $358,000 after purchasing an additional 2,531 shares during the last quarter. Bullseye Investment Management LLC purchased a new stake in shares of Gilead Sciences in the second quarter valued at about $2,085,000. Finally, Talon Private Wealth LLC bought a new position in shares of Gilead Sciences during the second quarter valued at about $212,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded up $1.95 during midday trading on Tuesday, reaching $152.51. 1,473,908 shares of the stock were exchanged, compared to its average volume of 6,927,831. 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. The firm has a market cap of $189.11 billion, a PE ratio of -57.16 and a beta of 0.33. The company's fifty day moving average is $140.37 and its 200-day moving average is $136.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter last year, the company posted $2.01 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post -0.48 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's payout ratio is presently -122.85%.

Insider Activity

In other Gilead Sciences news, CFO Andrew Dickinson sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total transaction of $435,870.00. Following the completion of the transaction, the chief financial officer owned 164,096 shares of the company's stock, valued at $23,841,507.84. This represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O'Day sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $148.64, for a total value of $2,229,600.00. Following the transaction, the chief executive officer owned 577,133 shares of the company's stock, valued at approximately $85,785,049.12. This represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 105,000 shares of company stock valued at $14,616,390. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on GILD. Leerink Partners lowered shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. HSBC upped their target price on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, September 10th. Weiss Ratings raised Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 14th. Truist Financial dropped their price target on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $158.78.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.