Point72 Hong Kong Ltd Purchases New Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Point72 Hong Kong Ltd purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 120,867 shares of the biopharmaceutical company's stock, valued at approximately $11,164,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Pallas Capital Advisors LLC grew its position in Gilead Sciences by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 8,150 shares of the biopharmaceutical company's stock worth $753,000 after acquiring an additional 314 shares in the last quarter. Accurate Wealth Management LLC boosted its position in shares of Gilead Sciences by 7.1% during the fourth quarter. Accurate Wealth Management LLC now owns 3,456 shares of the biopharmaceutical company's stock valued at $311,000 after buying an additional 230 shares during the period. San Luis Wealth Advisors LLC boosted its position in shares of Gilead Sciences by 3.3% during the fourth quarter. San Luis Wealth Advisors LLC now owns 9,885 shares of the biopharmaceutical company's stock valued at $913,000 after buying an additional 319 shares during the period. Kathmere Capital Management LLC boosted its position in shares of Gilead Sciences by 42.7% during the fourth quarter. Kathmere Capital Management LLC now owns 17,527 shares of the biopharmaceutical company's stock valued at $1,619,000 after buying an additional 5,246 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Gilead Sciences by 31.4% during the fourth quarter. Park Avenue Securities LLC now owns 28,753 shares of the biopharmaceutical company's stock valued at $2,656,000 after buying an additional 6,878 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ:GILD traded up $2.16 during mid-day trading on Friday, hitting $102.50. The company's stock had a trading volume of 6,395,303 shares, compared to its average volume of 7,677,426. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The stock has a market cap of $127.50 billion, a price-to-earnings ratio of 277.03, a PEG ratio of 0.71 and a beta of 0.26. The business's fifty day moving average is $105.75 and its two-hundred day moving average is $99.76.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the prior year, the company earned ($1.32) earnings per share. The firm's revenue was down .3% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $99.82, for a total transaction of $249,550.00. Following the sale, the chief financial officer now directly owns 165,674 shares of the company's stock, valued at $16,537,578.68. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 25,429 shares of company stock valued at $2,894,445 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GILD shares. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Oppenheimer dropped their target price 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. BMO Capital Markets boosted their price target on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Bank of America boosted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Nine equities 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. Based on data from MarketBeat.com, the stock presently 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.