RPG Investment Advisory LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

RPG Investment Advisory LLC cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 16.1% during the 3rd quarter, Holdings Channel reports. The firm owned 83,878 shares of the biopharmaceutical company’s stock after selling 16,087 shares during the quarter. RPG Investment Advisory LLC’s holdings in Gilead Sciences were worth $7,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GILD. Vanguard Group Inc. boosted its holdings 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 worth $8,404,161,000 after purchasing an additional 2,910,147 shares during the last quarter. Swedbank AB purchased a new position in Gilead Sciences in the first quarter valued at about $134,489,000. International Assets Investment Management LLC boosted its stake in Gilead Sciences by 8,238.4% in the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after acquiring an additional 1,622,806 shares during the last quarter. Capital Research Global Investors boosted its stake in 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 acquiring an additional 1,589,240 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after acquiring an additional 1,564,792 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 2.8 %

Shares of GILD opened at $94.35 on Wednesday. The stock has a market capitalization of $117.46 billion, a P/E ratio of 1,048.33, a PEG ratio of 3.01 and a beta of 0.17. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $85.66 and a two-hundred day simple moving average of $75.37. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last posted 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 net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period last year, the company posted $2.29 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm 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. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.26%. Gilead Sciences’s payout ratio is 3,422.22%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Piper Sandler boosted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial boosted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 in the last three months. 0.29% of the stock is owned by corporate insiders.

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.