Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,025 shares of the biopharmaceutical company’s stock after selling 1,165 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Gilead Sciences were worth $787,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. FMR LLC grew its position in shares of Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares during the period. Geode Capital Management LLC grew its position in shares of Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock valued at $2,608,337,000 after purchasing an additional 749,047 shares during the period. Norges Bank purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at $1,789,254,000. Finally, Northern Trust Corp grew its position in shares of 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 purchasing an additional 2,458,954 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the sale, the chief financial officer now owns 168,174 shares of the company’s stock, valued at $17,893,713.60. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,500 shares of company stock valued at $5,236,245. 0.27% of the stock is currently owned by insiders.

Gilead Sciences Stock Down 2.1%

Shares of Gilead Sciences stock opened at $106.19 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market cap of $132.09 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.70 and a beta of 0.29. Gilead Sciences, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $119.96. The business has a 50-day moving average price of $106.16 and a 200 day moving average price of $102.98.

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

Gilead Sciences Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Finally, Morgan Stanley boosted their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Gilead Sciences 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.