Rakuten Securities Inc. Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Rakuten Securities Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 26.6% in the third quarter, HoldingsChannel.com reports. The firm owned 745 shares of the biopharmaceutical company’s stock after selling 270 shares during the quarter. Rakuten Securities Inc.’s holdings in Gilead Sciences were worth $62,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in Gilead Sciences during the third quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the 2nd quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC raised its position in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $94.35 on Wednesday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The firm has a market capitalization of $117.46 billion, a P/E ratio of 1,048.33, a P/E/G ratio of 3.01 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 0.82. The company’s fifty day moving average price is $85.66 and its 200 day moving average price is $75.37.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Analyst Ratings Changes

Several research firms recently issued reports on GILD. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,947 shares of company stock valued at $4,968,674. 0.29% of the stock is currently owned by company 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.