Mill Creek Capital Advisors LLC Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Mill Creek Capital Advisors LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,768 shares of the biopharmaceutical company’s stock after selling 225 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Gilead Sciences were worth $232,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital World Investors lifted its stake 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 valued at $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors lifted its stake 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 valued at $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after buying an additional 268,208 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after buying an additional 1,564,792 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $88.40 on Monday. The stock has a market cap of $110.17 billion, a price-to-earnings ratio of 982.22, a price-to-earnings-growth ratio of 2.72 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm has a 50-day moving average of $86.68 and a two-hundred day moving average of $76.11.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. On average, research analysts forecast that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Insider Transactions at Gilead Sciences

In related news, 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 transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, 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. In the last quarter, insiders sold 56,947 shares of company stock valued at $4,968,674. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Oppenheimer lifted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Truist Financial lifted their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a 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 company an “overweight” rating in a report on Thursday, November 7th. Eleven equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Company 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.