Fmr LLC Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

FMR LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 79.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,162,319 shares of the biopharmaceutical company's stock after acquiring an additional 14,680,161 shares during the quarter. FMR LLC owned approximately 2.66% of Gilead Sciences worth $2,780,329,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $134,489,000. International Assets Investment Management LLC lifted its stake in shares of 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 worth $137,708,000 after buying an additional 1,622,806 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company's stock worth $541,310,000 after buying an additional 1,564,792 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Gilead Sciences in the 2nd quarter worth about $102,298,000. Finally, Assenagon Asset Management S.A. raised its stake in Gilead Sciences by 159.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,337,717 shares of the biopharmaceutical company's stock worth $195,994,000 after purchasing an additional 1,437,842 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company'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 sale, the insider now directly owns 78,127 shares of the company's stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 25,590 shares of the company's stock in a transaction dated 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 directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,947 shares of company stock worth $4,968,674. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GILD. BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Truist Financial lifted their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Cantor Fitzgerald lifted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an "outperform" rating and a $105.00 target price on the stock. Finally, Barclays raised their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Twelve equities research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.41.

Gilead Sciences Stock Up 1.0 %

Shares of Gilead Sciences stock traded up $0.86 during trading on Tuesday, reaching $91.35. 4,290,821 shares of the company traded hands, compared to its average volume of 7,097,189. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a 50 day moving average price of $87.58 and a 200-day moving average price of $77.13. The firm has a market capitalization of $113.85 billion, a PE ratio of 1,005.44, a P/E/G ratio of 2.80 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (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 analyst estimates of $7.01 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business's revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.37%. Gilead Sciences's payout ratio is currently 3,422.22%.

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.