Jacobs Levy Equity Management Inc. Lowers Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Jacobs Levy Equity Management Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 47.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 508,291 shares of the biopharmaceutical company’s stock after selling 459,881 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Gilead Sciences were worth $42,615,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GILD. FMR LLC increased its stake in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares in the last quarter. Legal & General Group Plc increased its position in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after buying an additional 268,208 shares during the period. Pacer Advisors Inc. lifted its position 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 valued at $541,310,000 after buying an additional 1,564,792 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Gilead Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock valued at $650,009,000 after acquiring an additional 224,960 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GILD. Piper Sandler upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho lifted their price objective on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Barclays increased their target price on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets lifted their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction on Wednesday, November 27th. The shares were 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 of the company’s stock, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 476,591 shares of company stock worth $43,747,615 over the last three months. Insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Down 1.6 %

GILD opened at $92.49 on Wednesday. The stock has a market capitalization of $115.27 billion, a PE ratio of 1,027.67, a P/E/G ratio of 2.92 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The business’s 50 day moving average price is $88.63 and its 200 day moving average price is $78.20.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Gilead Sciences Company 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.