Point72 Asset Management L.P. Takes $26.16 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)
Point72 Asset Management L.P. purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 402,631 shares of the biopharmaceutical company’s stock, valued at approximately $26,163,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in shares of Gilead Sciences during the fourth quarter valued at about $232,000. B. Riley Wealth Management Inc. raised its position in shares of Gilead Sciences by 19.7% in the fourth quarter. B. Riley Wealth Management Inc. now owns 9,101 shares of the biopharmaceutical company’s stock worth $591,000 after acquiring an additional 1,496 shares during the period. Malaga Cove Capital LLC raised its position in shares of Gilead Sciences by 19.8% in the fourth quarter. Malaga Cove Capital LLC now owns 18,607 shares of the biopharmaceutical company’s stock worth $1,209,000 after acquiring an additional 3,069 shares during the period. AMG National Trust Bank raised its position in shares of Gilead Sciences by 8.5% in the fourth quarter. AMG National Trust Bank now owns 74,817 shares of the biopharmaceutical company’s stock worth $4,862,000 after acquiring an additional 5,861 shares during the period. Finally, S.A. Mason LLC acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $60,000. 80.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. TheStreet upgraded shares of Gilead Sciences from a “c” rating to a “b-” rating in a research report on Friday, February 21st. Oppenheimer raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Barclays started coverage on shares of Gilead Sciences in a research note on Thursday, February 27th. They set an “underweight” rating and a $62.00 target price for the company. Royal Bank of Canada reissued a “buy” rating and set a $83.00 target price on shares of Gilead Sciences in a research note on Wednesday, March 18th. Finally, Piper Sandler raised shares of Gilead Sciences from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $90.00 in a research note on Friday, March 20th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.08.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.37). Gilead Sciences had a net margin of 23.99% and a return on equity of 35.49%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period last year, the firm earned $1.44 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that Gilead Sciences, Inc. will post 6.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 13th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.90%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, March 12th. Gilead Sciences’s dividend payout ratio is presently 44.30%.
In other Gilead Sciences news, EVP Brett A. Pletcher sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $68.18, for a total value of $340,900.00. Following the transaction, the executive vice president now owns 29,690 shares in the company, valued at $2,024,264.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brett A. Pletcher sold 10,441 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $70.88, for a total value of $740,058.08. Following the completion of the transaction, the executive vice president now owns 25,085 shares in the company, valued at approximately $1,778,024.80. The disclosure for this sale can be found here. Insiders sold a total of 73,532 shares of company stock valued at $5,101,386 over the last three months. 0.20% of the stock is owned by corporate insiders.
About Gilead Sciences
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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