Twin Lakes Capital Management LLC Sells 1,340 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Twin Lakes Capital Management LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,870 shares of the biopharmaceutical company’s stock after selling 1,340 shares during the period. Gilead Sciences comprises 3.4% of Twin Lakes Capital Management LLC’s holdings, making the stock its 4th largest position. Twin Lakes Capital Management LLC’s holdings in Gilead Sciences were worth $6,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bellevue Group AG lifted its stake in Gilead Sciences by 18.2% in the third quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock valued at $3,859,000 after acquiring an additional 7,093 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Gilead Sciences by 149.5% during the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares during the period. Legal & General Group Plc increased its position in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after buying an additional 93,068 shares during the last quarter. IRON Financial LLC bought a new stake in Gilead Sciences in the third quarter valued at approximately $830,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after buying an additional 33,162 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GILD shares. UBS Group raised their price target on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Robert W. Baird upped their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Piper Sandler upped their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.43.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 476,591 shares of company stock valued at $43,747,615 in the last quarter. Insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Down 1.7 %

Shares of GILD stock opened at $90.59 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a market cap of $112.90 billion, a PE ratio of 1,006.56, a P/E/G ratio of 2.86 and a beta of 0.18. The stock’s fifty day moving average price is $89.33 and its two-hundred day moving average price is $78.89.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. Equities analysts predict that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

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, 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.