Gilead Sciences Inc. (NASDAQ:GILD)’s share price dropped 1.8% during mid-day trading on Monday . The company traded as low as $77.63 and last traded at $78.33, with a volume of 10,657,487 shares changing hands. The stock had previously closed at $79.77.

GILD has been the subject of a number of research reports. Vetr raised Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $93.97 price target for the company in a research note on Tuesday, July 26th. S&P Equity Research reaffirmed a “strong-buy” rating on shares of Gilead Sciences in a research note on Wednesday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $97.00 price target on shares of Gilead Sciences in a research note on Wednesday, June 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $115.00 price target (down from $120.00) on shares of Gilead Sciences in a research note on Tuesday, July 26th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $123.00 price target on shares of Gilead Sciences in a research note on Wednesday, May 25th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $106.82.

The firm has a market cap of $103.16 billion and a P/E ratio of 6.86. The stock’s 50 day moving average is $82.33 and its 200 day moving average is $87.21.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.06. The company earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the company posted $3.15 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Gilead Sciences Inc. will post $11.78 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 16th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%.

In other Gilead Sciences news, CEO John F. Milligan sold 112,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $86.94, for a total transaction of $9,737,280.00. Following the transaction, the chief executive officer now owns 1,170,963 shares in the company, valued at approximately $101,803,523.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $87.02, for a total transaction of $174,040.00. Following the transaction, the executive vice president now owns 63,122 shares in the company, valued at approximately $5,492,876.44. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have made changes to their positions in the company. Fernwood Investment Management LLC raised its position in shares of Gilead Sciences by 0.6% in the fourth quarter. Fernwood Investment Management LLC now owns 58,831 shares of the biopharmaceutical company’s stock worth $5,953,000 after buying an additional 322 shares during the last quarter. TrimTabs Asset Management LLC raised its position in shares of Gilead Sciences by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 19,871 shares of the biopharmaceutical company’s stock worth $2,011,000 after buying an additional 369 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its position in shares of Gilead Sciences by 3.3% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 12,681 shares of the biopharmaceutical company’s stock worth $1,283,000 after buying an additional 400 shares during the last quarter. Aviance Capital Partners LLC raised its position in shares of Gilead Sciences by 5.4% in the fourth quarter. Aviance Capital Partners LLC now owns 29,997 shares of the biopharmaceutical company’s stock worth $3,035,000 after buying an additional 1,527 shares during the last quarter. Finally, Afam Capital Inc. raised its position in shares of Gilead Sciences by 3.0% in the fourth quarter. Afam Capital Inc. now owns 63,796 shares of the biopharmaceutical company’s stock worth $6,456,000 after buying an additional 1,884 shares during the last quarter.

Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.