Invesco Ltd. Sells 1,151,017 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Invesco Ltd. reduced its stake in Gilead Sciences by 10.2%, selling over 1.1 million shares and now holds approximately 10.1 million shares, worth $1.13 billion.
• Insiders, including CFO Andrew D. Dickinson and CEO Daniel Patrick O'day, sold a combined total of 12,500 shares recently, resulting in minor decreases in their ownership percentages.
• The company has announced a quarterly dividend of $0.79 per share, resulting in an annualized yield of 2.6%.

Invesco Ltd. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 10.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,126,898 shares of the biopharmaceutical company's stock after selling 1,151,017 shares during the period. Invesco Ltd. owned approximately 0.81% of Gilead Sciences worth $1,134,719,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. increased its holdings in shares of Gilead Sciences by 17.4% in the first quarter. Atlas Capital Advisors Inc. now owns 10,147 shares of the biopharmaceutical company's stock valued at $1,137,000 after buying an additional 1,505 shares in the last quarter. Berger Financial Group Inc bought a new position in shares of Gilead Sciences in the first quarter valued at $6,867,000. Pandora Wealth Inc. bought a new position in shares of Gilead Sciences in the first quarter valued at $2,577,000. Sierra Summit Advisors LLC increased its holdings in shares of Gilead Sciences by 4.6% in the first quarter. Sierra Summit Advisors LLC now owns 24,132 shares of the biopharmaceutical company's stock valued at $2,704,000 after buying an additional 1,057 shares in the last quarter. Finally, JFG Wealth Management LLC increased its holdings in shares of Gilead Sciences by 3.2% in the first quarter. JFG Wealth Management LLC now owns 4,775 shares of the biopharmaceutical company's stock valued at $535,000 after buying an additional 149 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $333,090.00. Following the sale, the insider directly owned 117,168 shares in the company, valued at $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,000 shares of company stock worth $8,984,175. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD traded up $0.02 during trading hours on Tuesday, reaching $120.49. 138,027 shares of the company traded hands, compared to its average volume of 8,367,028. The stock's fifty day moving average is $111.16 and its 200 day moving average is $107.83. The stock has a market cap of $149.50 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. Gilead Sciences, Inc. has a 1-year low of $72.67 and a 1-year high of $121.71.

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

Gilead Sciences Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on GILD. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the company from $108.00 to $127.00 in a report on Friday. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research note on Friday, July 25th. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. UBS Group boosted their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $114.82.

Gilead Sciences Company 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.