Oppenheimer & Co. Inc. Sells 3,964 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Oppenheimer & Co. Inc. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,508 shares of the biopharmaceutical company’s stock after selling 3,964 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Gilead Sciences were worth $23,853,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences in the second quarter valued at about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $0.47 on Wednesday, hitting $93.88. The stock had a trading volume of 457,117 shares, compared to its average volume of 7,029,459. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The business’s 50 day moving average is $85.95 and its two-hundred day moving average is $75.57. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 1.18. The stock has a market cap of $116.88 billion, a price-to-earnings ratio of 1,048.33, a price-to-earnings-growth ratio of 3.01 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 (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’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 posted $2.29 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared 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 3.28%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the business’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 value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GILD. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Piper Sandler boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein began coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average price target of $91.50.

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.