Wellington Management Group LLP Has $3.07 Billion Stake in Gilead Sciences, Inc. $GILD

Wellington Management Group LLP decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 23.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,358,967 shares of the biopharmaceutical company’s stock after selling 8,300,040 shares during the quarter. Wellington Management Group LLP owned 2.20% of Gilead Sciences worth $3,065,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GILD. Brighton Jones LLC grew its holdings in shares of Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Gabelli Funds LLC bought a new stake in Gilead Sciences during the 4th quarter worth approximately $387,000. Commerce Bank grew its holdings in Gilead Sciences by 1.0% during the 4th quarter. Commerce Bank now owns 73,195 shares of the biopharmaceutical company’s stock worth $6,761,000 after acquiring an additional 701 shares during the last quarter. Ossiam grew its holdings in Gilead Sciences by 3.2% during the 4th quarter. Ossiam now owns 31,975 shares of the biopharmaceutical company’s stock worth $2,954,000 after acquiring an additional 1,006 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Gilead Sciences by 1.9% during the 4th quarter. MetLife Investment Management LLC now owns 329,898 shares of the biopharmaceutical company’s stock worth $30,473,000 after acquiring an additional 6,109 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the sale, the chief executive officer directly owned 605,725 shares of the company’s stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the sale, the insider directly owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock worth $8,734,625 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Oppenheimer lowered their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Truist Financial upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their price objective for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Finally, Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.82.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $118.37 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $146.87 billion, a PE ratio of 23.58, a P/E/G ratio of 0.73 and a beta of 0.33. Gilead Sciences, Inc. has a twelve month low of $72.89 and a twelve month high of $121.83. The company has a 50-day moving average price of $111.88 and a two-hundred day moving average price of $108.50.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $2.01 earnings per share. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently 62.95%.

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.