ARGA Investment Management LP Has $16.71 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

ARGA Investment Management LP cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 79.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,870 shares of the biopharmaceutical company's stock after selling 683,916 shares during the period. Gilead Sciences comprises about 0.5% of ARGA Investment Management LP's investment portfolio, making the stock its 23rd biggest holding. ARGA Investment Management LP's holdings in Gilead Sciences were worth $16,707,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. FMR LLC boosted its stake in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company's stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP boosted its stake in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company's stock valued at $594,370,000 after acquiring an additional 5,653,075 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company's stock valued at $193,274,000 after acquiring an additional 1,793,145 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Gilead Sciences by 8,238.4% during the 3rd 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. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock traded down $2.00 during trading on Friday, hitting $96.04. The company had a trading volume of 7,182,199 shares, compared to its average volume of 6,866,207. The firm has a market capitalization of $119.69 billion, a price-to-earnings ratio of 1,067.11, a P/E/G ratio of 1.25 and a beta of 0.18. The business has a 50 day moving average of $93.04 and a 200 day moving average of $86.65. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $100.51. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on GILD shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $84.00 price objective on shares of Gilead Sciences in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Maxim Group lowered Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Citigroup initiated coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a "buy" rating and a $125.00 price target on the stock. Finally, Daiwa America raised Gilead Sciences to a "hold" rating in a research report on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.39.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 164,211 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 572,824 shares of company stock valued at $53,611,715. Corporate insiders own 0.16% of the company's stock.

Gilead Sciences 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.