Woodline Partners LP Sells 1,193,336 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Woodline Partners LP reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 61.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 734,693 shares of the biopharmaceutical company's stock after selling 1,193,336 shares during the period. Woodline Partners LP owned 0.06% of Gilead Sciences worth $67,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC raised its stake 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 buying an additional 7,157,113 shares during the period. Wellington Management Group LLP raised its stake in Gilead Sciences by 3.1% during 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 period. Geode Capital Management LLC raised its stake in Gilead Sciences by 2.7% during 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 period. Norges Bank acquired a new stake in Gilead Sciences during the 4th quarter worth $1,789,254,000. Finally, Northern Trust Corp raised its stake in 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. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 22,929 shares of company stock valued at $2,634,220. 0.27% of the stock is owned by insiders.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $106.16 on Tuesday. The business's 50 day moving average price is $105.60 and its two-hundred day moving average price is $99.95. The company has a market cap of $132.06 billion, a PE ratio of 286.92, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96.

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. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.32) earnings per share. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GILD shares. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research note on Friday, April 25th. Piper Sandler raised their price objective on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, DZ Bank raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $110.55.

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.

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