MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 413,575 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 46.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 474,340 shares of the biopharmaceutical company's stock after selling 413,575 shares during the period. Gilead Sciences accounts for 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's portfolio, making the stock its 25th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Gilead Sciences were worth $53,150,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC raised its position in Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 216 shares during the period. Morton Brown Family Wealth LLC bought a new position in Gilead Sciences in the fourth quarter worth approximately $35,000. Whipplewood Advisors LLC bought a new position in Gilead Sciences in the fourth quarter worth approximately $35,000. Synergy Investment Management LLC bought a new position in Gilead Sciences in the fourth quarter worth approximately $40,000. Finally, Lee Danner & Bass Inc. bought a new position in Gilead Sciences in the fourth quarter worth approximately $41,000. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the transaction, the chief executive officer now directly owns 620,268 shares of the company's stock, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider now directly owns 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,000 shares of company stock valued at $4,630,310 in the last three months. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $2.07 on Friday, reaching $109.98. The company's stock had a trading volume of 8,148,740 shares, compared to its average volume of 7,744,306. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company has a market cap of $136.81 billion, a P/E ratio of 297.24, a PEG ratio of 0.71 and a beta of 0.29. The company has a 50-day simple moving average of $105.67 and a 200 day simple moving average of $102.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same period last year, the company posted ($1.32) EPS. The business's revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.87%. Gilead Sciences's payout ratio is currently 66.53%.

Analyst Upgrades and Downgrades

GILD has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Finally, Bank of America raised their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $110.55.

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.