Impax Asset Management Group plc Sells 96,564 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Impax Asset Management Group plc reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 25.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,006 shares of the biopharmaceutical company's stock after selling 96,564 shares during the quarter. Impax Asset Management Group plc's holdings in Gilead Sciences were worth $31,823,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the 1st quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences during the first quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 216 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $41,000. Finally, Investment Research & Advisory Group Inc. grew its stake in Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.2%

Shares of NASDAQ:GILD opened at $111.28 on Friday. The business's 50-day moving average is $107.02 and its 200 day moving average is $103.93. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. Gilead Sciences, Inc. has a 1 year low of $66.01 and a 1 year high of $119.96. The firm has a market capitalization of $138.42 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.32) earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, June 13th. Gilead Sciences's dividend payout ratio is currently 66.53%.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the transaction, the chief executive officer directly owned 620,268 shares in the company, valued at $68,489,992.56. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $275,425.00. Following the sale, the chief financial officer directly owned 165,110 shares in the company, valued at $18,190,168.70. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,500 shares of company stock worth $6,340,745. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley lifted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Oppenheimer lowered their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.

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.

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