Worldquant Millennium Advisors LLC Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Worldquant Millennium Advisors LLC decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 85.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,420 shares of the biopharmaceutical company’s stock after selling 775,397 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Gilead Sciences were worth $11,354,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GILD. FMR LLC lifted its holdings in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after buying an additional 14,680,161 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings 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 worth $193,274,000 after buying an additional 1,793,145 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 worth $137,708,000 after buying an additional 1,622,806 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in 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 in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in Gilead Sciences during the 2nd quarter worth approximately $102,298,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction 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 position. 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 ninety days. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the topic of a number of research reports. Oppenheimer increased their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Monday, November 18th. Truist Financial raised their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Trading Down 1.3 %

Shares of Gilead Sciences stock opened at $92.13 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company’s fifty day moving average is $89.20 and its two-hundred day moving average is $78.64. The company has a market capitalization of $114.82 billion, a P/E ratio of 1,023.67, a PEG ratio of 2.84 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company 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 3.34%. 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.