Caisse Des Depots ET Consignations Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Caisse Des Depots ET Consignations has reduced its holdings in Gilead Sciences, Inc. by 11.2%, now owning 75,184 shares worth approximately $8.42 million.
• Insider selling activity includes Johanna Mercier selling 28,000 shares for about $3.01 million and CEO Daniel Patrick O'Day selling 10,000 shares for approximately $1.10 million.
• Gilead Sciences reported earnings of $2.01 EPS for the last quarter, exceeding expectations, and revenue of $7.08 billion, a 1.4% increase from the previous year.

Caisse Des Depots ET Consignations decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,184 shares of the biopharmaceutical company's stock after selling 9,488 shares during the period. Caisse Des Depots ET Consignations' holdings in Gilead Sciences were worth $8,424,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GILD. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $29,000. Core Alternative Capital raised its holdings in shares of Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $39,000. Finally, Clearstead Trust LLC raised its holdings in shares of Gilead Sciences by 287.6% in the 1st quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 279 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Down 0.8%

Shares of NASDAQ:GILD traded down $0.98 during trading on Tuesday, reaching $119.49. 2,441,456 shares of the stock traded hands, compared to its average volume of 8,381,144. The stock has a 50-day moving average of $111.16 and a two-hundred day moving average of $107.83. Gilead Sciences, Inc. has a 52-week low of $72.67 and a 52-week high of $121.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The stock has a market cap of $148.26 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's payout ratio is presently 62.95%.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer owned 605,725 shares of the company's stock, valued at $69,016,306.50. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $333,090.00. Following the transaction, the insider owned 117,168 shares in the company, valued at approximately $13,009,163.04. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GILD. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $108.00 to $127.00 in a research note on Friday. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. UBS Group upped their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Morgan Stanley increased their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two 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 $114.82.

Gilead Sciences Company 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.