Nordea Investment Management AB Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Nordea Investment Management AB trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,035,925 shares of the biopharmaceutical company’s stock after selling 87,815 shares during the period. Nordea Investment Management AB owned approximately 0.08% of Gilead Sciences worth $76,244,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Altfest L J & Co. Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth $210,000. Federated Hermes Inc. boosted its stake in Gilead Sciences by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after purchasing an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Gilead Sciences by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after purchasing an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth $74,000. Finally, Eagle Asset Management Inc. boosted its stake in Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after purchasing an additional 60,697 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $67.55 on Tuesday. The company has a market cap of $84.16 billion, a PE ratio of 187.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The company has a 50-day simple moving average of $66.12 and a 200-day simple moving average of $71.99.

Gilead Sciences (NASDAQ:GILDGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.56%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a research note on Wednesday, April 24th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. Finally, Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.00.

View Our Latest Research Report on GILD

Gilead Sciences Profile

(Free Report)

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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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