Strategic Investment Advisors MI Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Strategic Investment Advisors MI lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 72.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,884 shares of the biopharmaceutical company’s stock after selling 7,559 shares during the period. Strategic Investment Advisors MI’s holdings in Gilead Sciences were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Gilead Sciences during the 4th quarter worth approximately $1,789,254,000. FMR LLC grew its position in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after buying an additional 7,157,113 shares in the last quarter. GAMMA Investing LLC grew its holdings in Gilead Sciences by 13,891.1% during the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock worth $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Northern Trust Corp increased its holdings in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $207,340,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GILD shares. Bank of America raised their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Oppenheimer dropped their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Finally, Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Stock Down 1.2%

Shares of Gilead Sciences stock opened at $105.93 on Thursday. Gilead Sciences, Inc. has a 1 year low of $66.01 and a 1 year high of $119.96. The company has a market cap of $131.77 billion, a P/E ratio of 22.30, a P/E/G ratio of 0.69 and a beta of 0.29. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average price of $106.21 and a 200 day moving average price of $103.03.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.32) EPS. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.98%. Gilead Sciences’s dividend payout ratio is presently 66.53%.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $330,510.00. Following the transaction, the insider now directly owns 120,168 shares of the company’s stock, valued at approximately $13,238,908.56. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $275,425.00. Following the sale, the chief financial officer now owns 165,110 shares of the company’s stock, valued at approximately $18,190,168.70. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock worth $5,236,245 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Company Profile

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.