Brown Brothers Harriman & Co. Has $70,000 Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Brown Brothers Harriman & Co. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 37.6% during the third quarter, Holdings Channel reports. The institutional investor owned 840 shares of the biopharmaceutical company’s stock after selling 506 shares during the period. Brown Brothers Harriman & Co.’s holdings in Gilead Sciences were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new position in Gilead Sciences during the third quarter worth $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.2 %

NASDAQ:GILD opened at $92.41 on Friday. The company has a market cap of $115.17 billion, a P/E ratio of 1,026.78, a P/E/G ratio of 2.81 and a beta of 0.17. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock’s fifty day moving average price is $88.08 and its two-hundred day moving average price is $77.52.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Insider Activity

In other news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences 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 sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,735 shares of company stock worth $5,589,030 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

GILD has been the subject of a number of analyst reports. Barclays lifted their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird increased 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. JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $95.41.

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.