Point72 Europe London LLP Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Point72 Europe London LLP purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 95,695 shares of the biopharmaceutical company’s stock, valued at approximately $6,566,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Vanguard Group Inc. grew its stake in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Capital World Investors grew its position in Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after acquiring an additional 1,133,281 shares during the period. Capital Research Global Investors raised its stake in 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 acquiring an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 acquiring an additional 2,350,550 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings 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 valued at $968,236,000 after acquiring an additional 36,686 shares during the period. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock opened at $83.79 on Wednesday. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 232.75, a PEG ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $77.46 and a 200 day moving average price of $71.37.

Gilead Sciences (NASDAQ:GILD) last issued 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 net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Research analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research note on Monday, September 16th. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 4th. Piper Sandler reissued an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, BMO Capital Markets raised their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the 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 sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,002,940 in the last three months. Insiders own 0.16% of the company’s stock.

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.