Gilead Sciences, Inc. (NASDAQ:GILD) Insider Sells $15,094,275.12 in Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction on Wednesday, November 27th. The stock was 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 approximately $7,427,227.92. The trade was a 67.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Merdad Parsey also recently made the following trade(s):

• On Wednesday, November 6th, Merdad Parsey sold 25,590 shares of Gilead Sciences stock. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00.
• On Tuesday, October 1st, Merdad Parsey sold 2,000 shares of Gilead Sciences stock. The stock was sold at an average price of $83.83, for a total value of $167,660.00.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $92.58 on Monday. The stock’s 50-day simple moving average is $88.26 and its 200-day simple moving average is $77.84. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of 1,028.67, a PEG ratio of 2.87 and a beta of 0.17. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

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

Gilead Sciences Dividend Announcement

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

Institutional Investors Weigh In On Gilead Sciences

Several large investors have recently made changes to their positions in GILD. FMR LLC increased its holdings in shares of Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP increased its stake in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Gilead Sciences by 350.1% during the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares during the last quarter. International Assets Investment Management LLC increased its stake in Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Gilead Sciences by 24.7% during the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after acquiring an additional 1,564,792 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GILD. Mizuho lifted their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler lifted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wolfe Research assumed coverage on Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Twelve research 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’s stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $95.41.

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.