Soviero Asset Management LP Has $1.85 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Soviero Asset Management LP trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the biopharmaceutical company's stock after selling 3,000 shares during the quarter. Soviero Asset Management LP's holdings in Gilead Sciences were worth $1,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its position in Gilead Sciences by 21.6% in 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 during the period. Wellington Management Group LLP lifted its position in Gilead Sciences by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock worth $3,293,822,000 after purchasing an additional 1,058,331 shares during the period. Geode Capital Management LLC lifted its position in Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after purchasing an additional 749,047 shares during the period. Norges Bank acquired a new stake in Gilead Sciences in the fourth quarter worth approximately $1,789,254,000. Finally, Northern Trust Corp lifted its position in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 1.3%

Shares of NASDAQ GILD traded down $1.39 during mid-day trading on Wednesday, reaching $107.72. The company had a trading volume of 7,958,565 shares, compared to its average volume of 7,714,002. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a market capitalization of $134.00 billion, a PE ratio of 291.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26. The stock's 50 day moving average is $105.44 and its 200-day moving average is $100.07.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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 net margin of 1.67% and a return on equity of 31.63%. The business 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 business posted ($1.32) earnings per share. Gilead Sciences's revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 66.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GILD shares. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. Bank of America increased their price objective on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. The Goldman Sachs Group increased their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Oppenheimer cut their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.55.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the transaction, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at $19,977,938.37. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 22,929 shares of company stock valued at $2,634,220 over the last three months. 0.27% of the stock is currently 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.