Gilead Sciences, Inc. $GILD Stake Decreased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Gilead Sciences stake by 5.9% in the second quarter, selling 109,500 shares and retaining 1.75 million shares worth approximately $221 million. Institutional investors collectively own 83.67% of Gilead.
• Gilead insiders have sold 105,000 shares valued at roughly $14.6 million over the past 90 days, including sales by CFO Andrew Dickinson and Director Jeffrey Bluestone under pre-arranged trading plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $158.78 price target. The company also reported quarterly revenue of $7.8 billion, up 10.6% year over year, and declared a quarterly dividend of $0.82 per share.

Envestnet Asset Management Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,749,512 shares of the biopharmaceutical company's stock after selling 109,500 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Gilead Sciences worth $221,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Gilead Sciences in the second quarter worth approximately $15,393,785,000. State Street Corp lifted its holdings in shares of Gilead Sciences by 2.3% in the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company's stock worth $7,734,099,000 after acquiring an additional 1,357,967 shares during the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $2,617,152,000. Invesco Ltd. boosted its stake in shares of Gilead Sciences by 2.9% in the 4th quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company's stock valued at $1,912,822,000 after purchasing an additional 444,660 shares in the last quarter. Finally, Amundi boosted its stake in shares of Gilead Sciences by 10.7% in the 1st quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company's stock valued at $1,468,836,000 after purchasing an additional 1,018,976 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $145.29, for a total value of $435,870.00. Following the completion of the transaction, the chief financial officer directly owned 164,096 shares in the company, valued at approximately $23,841,507.84. This represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares of the company's stock, valued at approximately $1,459,771.32. This represents a 33.19% 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 105,000 shares of company stock valued at $14,616,390 over the last 90 days. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Truist Financial cut their price target 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. HSBC raised their price objective on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. Morgan Stanley lowered their target price on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.78.

Gilead Sciences Price Performance

GILD stock opened at $149.69 on Friday. The firm's 50-day moving average price is $141.48 and its two-hundred day moving average price is $136.35. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The stock has a market capitalization of $185.61 billion, a price-to-earnings ratio of -56.06 and a beta of 0.33. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced 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 company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the previous year, the business earned $2.01 EPS. Gilead Sciences's revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that Gilead Sciences, Inc. will post -0.48 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

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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