Renaissance Technologies LLC Raises Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Renaissance Technologies LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,057,598 shares of the biopharmaceutical company’s stock after purchasing an additional 739,948 shares during the period. Gilead Sciences comprises about 0.6% of Renaissance Technologies LLC’s portfolio, making the stock its 14th biggest position. Renaissance Technologies LLC’s holdings in Gilead Sciences were worth $347,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GILD. Vanguard Group Inc. grew its position in shares of 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 buying an additional 2,910,147 shares in the last quarter. Capital World Investors grew its position in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors grew its position in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Gilead Sciences by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock worth $968,236,000 after buying an additional 36,686 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $82.81 on Monday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The business has a 50 day simple moving average of $75.48 and a 200-day simple moving average of $70.84. The stock has a market capitalization of $103.10 billion, a PE ratio of 230.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Royal Bank of Canada upped their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by corporate insiders.

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.