Allspring Global Investments Holdings LLC Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Allspring Global Investments Holdings LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,271 shares of the biopharmaceutical company’s stock after selling 46,836 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Gilead Sciences were worth $34,939,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP increased its holdings in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Gilead Sciences by 723.3% in the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after buying an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Gilead Sciences by 350.1% in the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after buying an additional 1,793,145 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Gilead Sciences by 8,238.4% in the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after buying an additional 1,622,806 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 137,676 shares of Gilead Sciences stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the transaction, the chief financial officer now owns 171,223 shares in the company, valued at approximately $17,502,415.06. The trade was a 44.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 710,500 shares of company stock worth $67,684,956. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research analyst reports. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wolfe Research began coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective for the company. Robert W. Baird raised their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Gilead Sciences Stock Down 1.8 %

Shares of GILD opened at $104.08 on Friday. The firm has a market cap of $129.71 billion, a PE ratio of 1,156.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The company’s fifty day moving average is $93.63 and its two-hundred day moving average is $87.37. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $106.69. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 3.04%. Gilead Sciences’s payout ratio is presently 854.05%.

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.