BNP Paribas Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

BNP Paribas lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 77,395 shares of the biopharmaceutical company’s stock after selling 4,020 shares during the period. BNP Paribas’ holdings in Gilead Sciences were worth $6,488,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in shares of Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares in the last quarter. Concord Asset Management LLC VA raised its stake in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 111 shares in the last quarter. TFB Advisors LLC lifted its holdings in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares in the last quarter. Finally, FDx Advisors Inc. boosted its position in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $91.35 on Wednesday. The stock has a market capitalization of $113.85 billion, a price-to-earnings ratio of 1,015.00, a PEG ratio of 2.81 and a beta of 0.17. The business’s 50 day moving average is $87.74 and its two-hundred day moving average is $77.31. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-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.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping 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 firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction 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 transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GILD shares. Cantor Fitzgerald boosted their target price on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Mizuho increased their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Finally, Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.