Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by AlphaCore Capital LLC

AlphaCore Capital LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,456 shares of the biopharmaceutical company’s stock after selling 619 shares during the period. AlphaCore Capital LLC’s holdings in Gilead Sciences were worth $793,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Gilead Sciences in the first quarter valued at approximately $134,489,000. International Assets Investment Management LLC boosted its stake in shares of Gilead Sciences by 8,238.4% in the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after purchasing an additional 1,622,806 shares during the period. Pacer Advisors Inc. increased its stake in Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after buying an additional 1,564,792 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Gilead Sciences during the 2nd quarter worth approximately $102,298,000. Finally, Assenagon Asset Management S.A. boosted its position in Gilead Sciences by 159.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,337,717 shares of the biopharmaceutical company’s stock valued at $195,994,000 after buying an additional 1,437,842 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,947 shares of company stock worth $4,968,674. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GILD shares. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Mizuho upped their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein initiated coverage on Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Price Performance

GILD opened at $89.84 on Friday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The firm has a market cap of $111.96 billion, a price-to-earnings ratio of 998.22, a PEG ratio of 2.72 and a beta of 0.17. 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 company has a fifty day simple moving average of $87.28 and a 200 day simple moving average of $76.61.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping 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 return on equity of 29.00% and a net margin of 0.45%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

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.