Jacobs & Co. CA Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Jacobs & Co. CA trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,537 shares of the biopharmaceutical company’s stock after selling 784 shares during the period. Jacobs & Co. CA’s holdings in Gilead Sciences were worth $2,149,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Gilead Sciences by 324.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after buying an additional 13,764,169 shares during the period. Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter worth $1,115,186,000. Moneta Group Investment Advisors LLC boosted its holdings in Gilead Sciences by 96,759.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock valued at $868,046,000 after purchasing an additional 10,100,755 shares during the period. Renaissance Technologies LLC boosted its holdings in Gilead Sciences by 70.6% in the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after purchasing an additional 6,410,047 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of GILD opened at $73.01 on Thursday. Gilead Sciences, Inc. has a twelve month low of $71.37 and a twelve month high of $87.86. The stock’s 50 day moving average is $75.38 and its two-hundred day moving average is $77.32. The firm has a market capitalization of $90.90 billion, a PE ratio of 16.22, a P/E/G ratio of 0.92 and a beta of 0.18. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. Gilead Sciences’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. Research analysts anticipate that Gilead Sciences, Inc. will post 7.07 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.77 per share. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.22%. Gilead Sciences’s payout ratio is 68.44%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the transaction, the chief financial officer now directly owns 101,534 shares in the company, valued at approximately $8,709,586.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the transaction, the chief financial officer now directly owns 101,534 shares in the company, valued at approximately $8,709,586.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johanna Mercier sold 8,242 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total value of $702,465.66. Following the transaction, the insider now owns 82,729 shares of the company’s stock, valued at $7,050,992.67. The disclosure for this sale can be found here. Insiders have sold 15,242 shares of company stock valued at $1,277,726 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GILD. Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald cut their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, Barclays cut their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.36.

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.