Payden & Rygel Has $207,000 Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Payden & Rygel decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 76.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the biopharmaceutical company’s stock after selling 8,720 shares during the period. Payden & Rygel’s holdings in Gilead Sciences were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GILD. Bank Julius Baer & Co. Ltd Zurich lifted its position in Gilead Sciences by 98,797.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,005,889 shares of the biopharmaceutical company’s stock worth $30,366,034,000 after acquiring an additional 393,607,491 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after acquiring an additional 13,764,169 shares during the last quarter. Norges Bank acquired a new position in shares of Gilead Sciences during the fourth quarter valued at about $1,115,186,000. Moneta Group Investment Advisors LLC raised its position in shares of Gilead Sciences by 96,759.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock valued at $868,046,000 after buying an additional 10,100,755 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Gilead Sciences by 70.6% during the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after buying an additional 6,410,047 shares during the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 1,501 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total transaction of $115,561.99. Following the completion of the sale, the insider now owns 70,130 shares in the company, valued at $5,399,308.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the sale, the insider now owns 70,130 shares in the company, valued at $5,399,308.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 104,003 shares in the company, valued at approximately $8,320,240. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

Shares of GILD opened at $75.45 on Monday. The company has a market capitalization of $94.01 billion, a P/E ratio of 16.19, a PEG ratio of 1.00 and a beta of 0.32. Gilead Sciences, Inc. has a one year low of $72.87 and a one year high of $89.74. The business’s 50 day simple moving average is $76.82 and its 200-day simple moving average is $77.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.34 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.38. Gilead Sciences had a return on equity of 39.30% and a net margin of 21.45%. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The business’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 6.76 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s payout ratio is presently 64.38%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GILD shares. Bank of America raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $88.00 to $95.00 in a research report on Friday, September 8th. UBS Group cut their price objective on shares of Gilead Sciences from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Barclays cut their price objective on shares of Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. Royal Bank of Canada cut their price objective on shares of Gilead Sciences from $78.00 to $77.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 14th. Finally, Truist Financial reissued a “buy” rating and issued a $91.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.22.

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.