Crossmark Global Holdings Inc. reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 26.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 397,623 shares of the biopharmaceutical company’s stock after selling 143,671 shares during the quarter. Gilead Sciences comprises 0.7% of Crossmark Global Holdings Inc.’s holdings, making the stock its 20th largest holding. Crossmark Global Holdings Inc.’s holdings in Gilead Sciences were worth $59,266,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $15,393,785,000. Legal & General Group Plc acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $1,316,606,000. Deutsche Bank AG acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $918,387,000. Jupiter Topco LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at $398,905,000. 83.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Gilead Sciences from $165.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Zacks Research lowered shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price target on shares of Gilead Sciences in a report on Thursday, October 8th. Bank of America lifted their price target on shares of Gilead Sciences from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Twenty-three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.63.
View Our Latest Research Report on GILD
Insider Transactions at Gilead Sciences
In other news, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $156.22, for a total value of $468,660.00. Following the transaction, the insider owned 113,684 shares in the company, valued at $17,759,714.48. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total value of $2,675,160.00. Following the transaction, the director directly owned 12,894 shares in the company, valued at approximately $1,916,306.28. The trade was a 58.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 111,000 shares of company stock valued at $15,877,860. Corporate insiders own 0.30% of the company’s stock.
Gilead Sciences Price Performance
NASDAQ:GILD opened at $153.57 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a one year low of $114.02 and a one year high of $160.51. The firm has a 50-day moving average of $148.36 and a 200-day moving average of $137.60.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Gilead Sciences’s payout ratio is currently -122.85%.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company is best known for its HIV treatments, including Biktarvy, Descovy, Genvoya and Truvada, as well as therapies for chronic hepatitis B and hepatitis C. Its portfolio also includes Veklury (remdesivir), an antiviral treatment for COVID-19.
Gilead has expanded into oncology and cell therapy through products such as Trodelvy and the CAR T-cell therapies Yescarta and Tecartus, which are developed and marketed through its Kite subsidiary.
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