Nexus Investment Management ULC Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Nexus Investment Management ULC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,813 shares of the biopharmaceutical company’s stock after selling 43,250 shares during the quarter. Gilead Sciences comprises approximately 2.2% of Nexus Investment Management ULC’s portfolio, making the stock its 22nd biggest position. Nexus Investment Management ULC’s holdings in Gilead Sciences were worth $22,152,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. nVerses Capital LLC bought a new position in shares of Gilead Sciences in the 3rd quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences in the fourth quarter worth about $29,000. Valued Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the second quarter valued at approximately $33,000. Finally, Friedenthal Financial purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $50,000. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value 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 approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 456,234 shares of company stock valued at $42,130,461 over the last quarter. 0.29% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

GILD opened at $91.84 on Friday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a market cap of $114.46 billion, a price-to-earnings ratio of 1,020.44, a PEG ratio of 1.27 and a beta of 0.18. 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 company’s 50 day moving average is $91.75 and its 200 day moving average is $83.97.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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. The firm 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 company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities research analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GILD shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Robert W. Baird raised their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $87.00 to $113.00 in a research report on Friday, January 10th. Finally, Truist Financial lifted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

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.