Caisse DE Depot ET Placement DU Quebec Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 411,727 shares of the biopharmaceutical company’s stock after selling 135,597 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Gilead Sciences were worth $34,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. increased its holdings in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the third quarter worth $25,000. Valued Wealth Advisors LLC raised its position in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC lifted its stake in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter worth $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GILD. Royal Bank of Canada upped their price objective on Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Monday, November 18th. Leerink Partners raised shares of 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. Cantor Fitzgerald boosted their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price 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. Finally, Robert W. Baird boosted their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Twelve equities research 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 company’s stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Stock Up 0.2 %

Gilead Sciences stock opened at $92.58 on Monday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The business has a fifty day moving average price of $88.26 and a 200-day moving average price of $77.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock 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.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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. 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 was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. The trade was a 67.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 227,946 shares of company stock valued at $20,683,305. 0.16% of the stock is owned by insiders.

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.