Gilead Sciences (NASDAQ:GILD) Stock: Insider Wettan Keeley Cain Sells 3,399 Shares

Key Points

• EVP Wettan Keeley Cain sold 3,399 shares for about $558,000, reducing their ownership by 38.81%; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Gilead beat quarterly estimates, reporting $2.55 in earnings per share versus $2.19 expected and $8.30 billion in revenue versus $7.81 billion expected; revenue rose 6.8% year over year.
• The company declared a quarterly dividend of $0.82 per share, equivalent to $3.28 annually and a 1.9% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $170.15.

Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) EVP Wettan Keeley Cain sold 3,399 shares of the firm's stock in a transaction on Friday, November 6th. The stock was sold at an average price of $164.11, for a total value of $557,809.89. Following the completion of the transaction, the executive vice president owned 5,360 shares in the company, valued at approximately $879,629.60. This trade represents a 38.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gilead Sciences Stock Performance

Gilead Sciences stock traded up $2.43 during mid-day trading on Monday, reaching $169.32. 4,470,244 shares of the stock traded hands, compared to its average volume of 6,777,844. The business's 50-day moving average is $153.51 and its 200-day moving average is $141.14. The stock has a market capitalization of $210.01 billion, a PE ratio of -53.58 and a beta of 0.35. Gilead Sciences, Inc. has a 12-month low of $116.88 and a 12-month high of $176.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.38 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The firm had revenue of $8.30 billion for the quarter, compared to analysts' expectations of $7.81 billion. During the same quarter in the prior year, the business earned $2.47 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post -1.07 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 15th. Gilead Sciences's dividend payout ratio (DPR) is -103.80%.

Analysts Set New Price Targets

GILD has been the topic of several analyst reports. Morgan Stanley boosted their target price on Gilead Sciences from $163.00 to $183.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Cantor Fitzgerald increased their price target on Gilead Sciences from $155.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Bank of America lifted their price objective on shares of Gilead Sciences from $168.00 to $172.00 and gave the company a "buy" rating in a report on Tuesday, October 20th. UBS Group raised their price target on shares of Gilead Sciences from $175.00 to $195.00 and gave the company a "buy" rating in a report on Friday, October 30th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $175.00 target price on shares of Gilead Sciences in a research report on Monday, November 2nd. Twenty-three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $170.15.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PFS Partners LLC lifted its holdings in shares of Gilead Sciences by 101.1% in the 3rd quarter. PFS Partners LLC now owns 191 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 96 shares during the period. Persistent Asset Partners Ltd acquired a new stake in Gilead Sciences during the second quarter worth about $25,000. Laurel Wealth Advisors LLC acquired a new stake in Gilead Sciences during the third quarter worth about $29,000. Kimelman & Baird LLC acquired a new stake in Gilead Sciences during the second quarter worth about $25,000. Finally, Toth Financial Advisory Corp raised its position in Gilead Sciences by 85.5% during the third quarter. Toth Financial Advisory Corp now owns 217 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C.

Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.

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