Gilead Sciences, Inc. (NASDAQ:GILD) Stake Decreased by AlphaCore Capital LLC

AlphaCore Capital LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,456 shares of the biopharmaceutical company’s stock after selling 619 shares during the quarter. AlphaCore Capital LLC’s holdings in Gilead Sciences were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. MQS Management LLC acquired a new stake in Gilead Sciences in the first quarter worth about $250,000. Axxcess Wealth Management LLC increased its position in shares of Gilead Sciences by 24.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 17,916 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 3,521 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Gilead Sciences by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 1,410,443 shares of the biopharmaceutical company’s stock valued at $103,315,000 after buying an additional 80,666 shares during the period. Epoch Investment Partners Inc. lifted its holdings in Gilead Sciences by 18.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 887,978 shares of the biopharmaceutical company’s stock valued at $65,044,000 after acquiring an additional 139,907 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Gilead Sciences by 2.6% in the 1st quarter. Lazard Asset Management LLC now owns 969,733 shares of the biopharmaceutical company’s stock worth $71,032,000 after purchasing an additional 24,683 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on GILD shares. Wolfe Research started coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Mizuho raised their price objective on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Sanford C. Bernstein initiated coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.41.

Gilead Sciences Stock Up 1.4 %

Shares of Gilead Sciences stock opened at $89.84 on Friday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $87.28 and a two-hundred day moving average price of $76.61. The stock has a market capitalization of $111.96 billion, a P/E ratio of 998.22, a PEG ratio of 2.72 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.43%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock valued at $4,968,674 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Gilead Sciences 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.