Deutsche Bank AG Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Deutsche Bank AG reduced its stake in Gilead Sciences by 11.6%, now owning approximately 6.67 million shares valued at around $746.95 million.
• Several large investors, including Vanguard Group and Citizens Financial Group, have recently increased their holdings in Gilead, indicating strong institutional support.
• Analysts have varied ratings on Gilead Sciences, with a consensus rating of "Moderate Buy" and a price target around $112.36 amidst ongoing adjustments in forecasts.\

Deutsche Bank AG lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,666,252 shares of the biopharmaceutical company's stock after selling 870,546 shares during the quarter. Deutsche Bank AG owned approximately 0.54% of Gilead Sciences worth $746,954,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after purchasing an additional 1,942,433 shares in the last quarter. Northern Trust Corp grew its holdings in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gilead Sciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock valued at $1,130,117,000 after buying an additional 1,605,730 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Gilead Sciences by 30.1% during the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Gilead Sciences by 16.2% during the 4th quarter. Nuveen Asset Management LLC now owns 5,208,321 shares of the biopharmaceutical company's stock worth $481,093,000 after buying an additional 724,493 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.4%

NASDAQ GILD traded down $0.46 during trading on Monday, hitting $118.95. 2,730,124 shares of the company's stock traded hands, compared to its average volume of 8,384,469. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The firm has a market cap of $147.60 billion, a P/E ratio of 23.68, a PEG ratio of 0.75 and a beta of 0.33. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $121.38. The stock has a fifty day moving average of $110.93 and a two-hundred day moving average of $107.64.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share 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 analyst estimates of $6.95 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $108.00 to $127.00 in a research report on Friday. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. UBS Group lifted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $114.82.

Insider Activity

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 completion of the sale, the chief executive officer directly owned 605,725 shares in the company, valued at approximately $69,016,306.50. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences 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 completion of the transaction, the chief financial officer directly owned 162,610 shares of the company's stock, valued at $18,054,588.30. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,000 shares of company stock valued at $8,984,175. Company insiders own 0.27% of the company's stock.

Gilead Sciences Profile

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.