Nisa Investment Advisors LLC Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Nisa Investment Advisors LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 345,569 shares of the biopharmaceutical company's stock after selling 63,224 shares during the quarter. Nisa Investment Advisors LLC's holdings in Gilead Sciences were worth $38,721,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bridgewater Associates LP raised its stake in shares of Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after purchasing an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Gilead Sciences by 14.5% in the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Gilead Sciences by 54.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock valued at $3,422,000 after acquiring an additional 13,086 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Gilead Sciences during the fourth quarter worth $1,699,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $275,425.00. Following the transaction, the chief financial officer owned 165,110 shares in the company, valued at approximately $18,190,168.70. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Friday, May 30th. The stock was 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 owned 620,268 shares in the company, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,500 shares of company stock worth $6,340,745. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Oppenheimer dropped their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.38.

Gilead Sciences Price Performance

NASDAQ GILD traded up $2.18 during trading hours on Wednesday, reaching $113.24. 5,234,322 shares of the stock traded hands, compared to its average volume of 7,689,194. The stock has a 50 day simple moving average of $107.26 and a two-hundred day simple moving average of $104.29. Gilead Sciences, Inc. has a 1 year low of $66.34 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The company has a market cap of $140.86 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29.

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

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.79%. Gilead Sciences's dividend payout ratio is currently 66.53%.

About Gilead Sciences

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.