Victory Capital Management Inc. Sells 468,814 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Victory Capital Management Inc. lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,561,612 shares of the biopharmaceutical company’s stock after selling 468,814 shares during the quarter. Victory Capital Management Inc.’s holdings in Gilead Sciences were worth $214,766,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Capital World Investors increased its position in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors raised its stake in shares of Gilead Sciences by 2.7% in the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares in the last quarter. Legal & General Group Plc lifted its position in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after buying an additional 268,208 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other 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 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.60 on Tuesday, hitting $96.43. The company had a trading volume of 1,546,287 shares, compared to its average volume of 7,023,962. The stock has a market cap of $120.05 billion, a price-to-earnings ratio of 1,078.11, a P/E/G ratio of 3.36 and a beta of 0.17. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The stock has a 50 day moving average price of $85.66 and a 200 day moving average price of $75.37.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) 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 analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Gilead Sciences, Inc. will post 4.34 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Cantor Fitzgerald raised their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird upped their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.50.

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.