Gilead Sciences, Inc. (NASDAQ:GILD) is Sarissa Capital Management LP’s 3rd Largest Position

Sarissa Capital Management LP reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 30.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 763,333 shares of the biopharmaceutical company’s stock after selling 339,949 shares during the quarter. Gilead Sciences makes up 15.9% of Sarissa Capital Management LP’s holdings, making the stock its 3rd largest position. Sarissa Capital Management LP owned 0.06% of Gilead Sciences worth $63,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Lantz Financial LLC raised its stake in Gilead Sciences by 3.5% in the second quarter. Lantz Financial LLC now owns 24,920 shares of the biopharmaceutical company’s stock valued at $1,710,000 after buying an additional 840 shares during the last quarter. Symmetry Partners LLC raised its stake in Gilead Sciences by 18.5% in the second quarter. Symmetry Partners LLC now owns 13,041 shares of the biopharmaceutical company’s stock valued at $895,000 after buying an additional 2,037 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Gilead Sciences in the second quarter valued at about $25,328,000. Capital Investment Advisors LLC raised its stake in Gilead Sciences by 3.1% in the second quarter. Capital Investment Advisors LLC now owns 340,863 shares of the biopharmaceutical company’s stock valued at $23,387,000 after buying an additional 10,211 shares during the last quarter. Finally, Southland Equity Partners LLC purchased a new stake in Gilead Sciences in the second quarter valued at about $204,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research reports. Truist Financial increased their price objective on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $96.00 in a report on Monday, October 21st. UBS Group raised their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Wolfe Research started coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. Twelve investment 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 stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Trading Down 1.0 %

Shares of NASDAQ GILD opened at $91.59 on Thursday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $88.82 and a 200-day simple moving average of $78.29. The stock has a market capitalization of $114.15 billion, a PE ratio of 1,017.67, a PEG ratio of 2.87 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during 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 company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.36%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 476,591 shares of company stock valued at $43,747,615 in the last three months. 0.16% of the stock is owned by corporate insiders.

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.