Amalgamated Bank Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Amalgamated Bank lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 251,858 shares of the biopharmaceutical company’s stock after selling 6,342 shares during the period. Amalgamated Bank’s holdings in Gilead Sciences were worth $17,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares during the last quarter. Capital World Investors increased its position in shares of Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares during the last quarter. Capital Research Global Investors increased its position in shares of Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after purchasing an additional 1,589,240 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the last quarter. Finally, Parnassus Investments LLC increased its position in shares of Gilead Sciences by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock worth $968,236,000 after purchasing an additional 36,686 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. BMO Capital Markets lifted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $82.06.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $83.05 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The stock has a 50 day moving average of $76.09 and a two-hundred day moving average of $71.00. The stock has a market cap of $103.47 billion, a P/E ratio of 230.69, a P/E/G ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. On average, research analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.