TCW Group Inc. Sells 148,669 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

TCW Group Inc. decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 83.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,934 shares of the biopharmaceutical company’s stock after selling 148,669 shares during the quarter. TCW Group Inc.’s holdings in Gilead Sciences were worth $2,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avior Wealth Management LLC lifted its stake in shares of Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after buying an additional 108 shares during the last quarter. Concord Asset Management LLC VA raised its holdings in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 111 shares during the period. TFB Advisors LLC lifted its position in Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after acquiring an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the period. Finally, FDx Advisors Inc. grew its position in shares of Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GILD shares. The Goldman Sachs Group boosted their price target on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Robert W. Baird raised their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.43.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 447,234 shares of company stock valued at $41,288,086 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $92.38 on Friday. The firm has a 50-day moving average price of $89.65 and a 200-day moving average price of $79.17. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $115.13 billion, a P/E ratio of 1,026.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.