Pitcairn Co. Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Pitcairn Co. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,580 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the quarter. Pitcairn Co.’s holdings in Gilead Sciences were worth $552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. lifted its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted 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 purchasing an additional 161 shares during the period. Cedar Wealth Management LLC grew its holdings in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.3 %

Gilead Sciences stock opened at $90.49 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a 50-day simple moving average of $87.58 and a 200-day simple moving average of $77.13. The firm has a market capitalization of $112.77 billion, a P/E ratio of 1,005.44, a P/E/G ratio of 2.80 and a beta of 0.17.

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. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, equities analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.40%. Gilead Sciences’s payout ratio is 3,422.22%.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets raised their price objective on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays increased their target price 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. Finally, Wolfe Research started coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated 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 approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The transaction was disclosed in a 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 that occurred on 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 directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,947 shares of company stock valued at $4,968,674. Company insiders own 0.29% of the company’s stock.

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.