Impax Asset Management Group plc Lowers Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Impax Asset Management Group plc trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,742 shares of the biopharmaceutical company’s stock after selling 7,979 shares during the quarter. Impax Asset Management Group plc’s holdings in Gilead Sciences were worth $14,063,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GILD. 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 valued at $788,000 after buying an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares in the last quarter. FDx Advisors Inc. lifted its position in Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 117 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Gilead Sciences by 3.9% during the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 123 shares in the last quarter. Finally, Roberts Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 1.9% during the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after purchasing an additional 130 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GILD shares. Truist Financial boosted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Piper Sandler lifted their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.86.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

GILD stock opened at $88.40 on Friday. The company has a market capitalization of $110.17 billion, a P/E ratio of 982.22, a PEG ratio of 2.85 and a beta of 0.17. The company has a 50-day simple moving average of $86.49 and a 200 day simple moving average of $75.81. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the company earned $2.29 EPS. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Gilead Sciences, Inc. will post 4.39 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

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.