Caxton Associates LP Sells 11,929 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Caxton Associates LP decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 67.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,671 shares of the biopharmaceutical company's stock after selling 11,929 shares during the period. Caxton Associates LP's holdings in Gilead Sciences were worth $524,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter worth $1,789,254,000. FMR LLC raised its holdings in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Gilead Sciences by 723.3% in the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company's stock valued at $594,370,000 after purchasing an additional 5,653,075 shares during the last quarter. Northern Trust Corp grew its position in shares of Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after buying an additional 2,458,954 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $207,340,000. 83.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total transaction of $260,225.00. Following the transaction, the chief financial officer now owns 169,061 shares in the company, valued at approximately $17,597,559.49. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 160,605 shares of company stock worth $16,718,136 over the last three months. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research note on Friday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $110.55.

Gilead Sciences Stock Down 1.3 %

NASDAQ GILD traded down $1.30 during trading hours on Friday, hitting $96.86. 13,140,489 shares of the company traded hands, compared to its average volume of 7,599,777. The stock has a market capitalization of $120.61 billion, a price-to-earnings ratio of 261.78, a P/E/G ratio of 0.71 and a beta of 0.26. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The business's 50-day moving average is $107.23 and its 200-day moving average is $99.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the previous year, the business earned ($1.32) earnings per share. The business's revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 3.26%. Gilead Sciences's dividend payout ratio is currently 66.53%.

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.