Two Sigma Advisers LP Sells 2,217,004 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Two Sigma Advisers LP decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 89.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,796 shares of the biopharmaceutical company's stock after selling 2,217,004 shares during the quarter. Two Sigma Advisers LP's holdings in Gilead Sciences were worth $25,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC grew its holdings in shares of Gilead Sciences by 21.6% during the fourth 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 in the last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock worth $3,293,822,000 after buying an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC lifted its position in Gilead Sciences by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after buying an additional 749,047 shares during the last quarter. Norges Bank bought a new stake in Gilead Sciences in the 4th quarter worth approximately $1,789,254,000. Finally, Northern Trust Corp lifted its position in Gilead Sciences by 19.7% in 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 last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Royal Bank of Canada boosted their target price on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.55.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 17,929 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the transaction, the chief financial officer now directly owns 169,061 shares in the company, valued at $19,977,938.37. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,929 shares of company stock valued at $5,644,780. 0.27% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded up $0.63 during midday trading on Friday, reaching $107.37. 6,037,127 shares of the company's stock traded hands, compared to its average volume of 7,726,038. The company has a market cap of $133.56 billion, a price-to-earnings ratio of 290.19, a P/E/G ratio of 0.71 and a beta of 0.26. 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, Inc. has a one year low of $62.07 and a one year high of $119.96. The stock has a 50 day moving average of $105.27 and a 200 day moving average of $100.36.

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 (EPS) for the quarter, beating 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 period in the prior year, the company posted ($1.32) earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced 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. This represents a $3.16 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio is 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.