Gilead Sciences, Inc. (NASDAQ:GILD) Stake Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,508 shares of the biopharmaceutical company’s stock after selling 3,964 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Gilead Sciences were worth $23,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. increased its stake in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new position in Gilead Sciences in the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the 2nd quarter worth about $33,000. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % 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 worth $4,968,674. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GILD shares. Cantor Fitzgerald lifted their target price on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. BMO Capital Markets lifted their target price on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Sanford C. Bernstein started coverage on Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Piper Sandler lifted their target price on Gilead Sciences from $95.00 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 issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Gilead Sciences Stock Performance

GILD traded down $0.47 on Wednesday, hitting $93.88. The company had a trading volume of 457,117 shares, compared to its average volume of 7,029,459. The company’s fifty day moving average price is $85.95 and its 200 day moving average price is $75.57. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 0.82. The stock has a market cap of $116.88 billion, a price-to-earnings ratio of 1,048.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

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 issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.28%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

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.