Bank of America Corp DE Sells 1,329,871 Shares of Gilead Sciences, Inc. $GILD

Bank of America Corp DE lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,649,065 shares of the biopharmaceutical company's stock after selling 1,329,871 shares during the quarter. Bank of America Corp DE owned approximately 1.50% of Gilead Sciences worth $2,356,123,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $15,393,785,000. State Street Corp increased its position in shares of Gilead Sciences by 1.9% during the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company's stock valued at $7,393,921,000 after purchasing an additional 1,151,213 shares during the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences during the 4th quarter worth $2,617,152,000. Invesco Ltd. grew its position in Gilead Sciences by 2.9% during the fourth quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company's stock valued at $1,912,822,000 after buying an additional 444,660 shares during the period. Finally, Amundi increased its holdings in Gilead Sciences by 10.7% during the first quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company's stock worth $1,468,836,000 after buying an additional 1,018,976 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $146.41 on Tuesday. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The stock has a fifty day moving average of $138.82 and a 200 day moving average of $136.18. 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 capitalization of $181.54 billion, a price-to-earnings ratio of -54.84 and a beta of 0.33.

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

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently -122.85%.

Insider Activity at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the transaction, the director owned 12,894 shares in the company, valued at $1,916,306.28. The trade was a 58.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 99,000 shares of company stock worth $13,747,860 in the last quarter. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GILD shares. HSBC boosted their target price on shares of Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. Royal Bank Of Canada increased their price target on Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Morgan Stanley lowered their price objective on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, July 27th. Weiss Ratings downgraded shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, Truist Financial cut their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $158.78.

Gilead Sciences Company 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.

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