Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,619 shares of the biopharmaceutical company’s stock after selling 15,810 shares during the quarter. Grimes & Company Inc.’s holdings in Gilead Sciences were worth $18,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Gilead Sciences by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 216 shares during the period. Morton Brown Family Wealth LLC acquired a new position in Gilead Sciences during the 4th quarter worth about $35,000. Whipplewood Advisors LLC acquired a new position in Gilead Sciences during the 4th quarter worth about $35,000. Synergy Investment Management LLC acquired a new position in Gilead Sciences during the 4th quarter worth about $40,000. Finally, Lee Danner & Bass Inc. acquired a new position in Gilead Sciences during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.8%

GILD opened at $110.83 on Tuesday. The firm has a market cap of $137.86 billion, a price-to-earnings ratio of 299.54, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96. The business’s 50 day moving average is $105.82 and its two-hundred day moving average is $102.45. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.32) earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 66.53%.

Wall Street Analysts Forecast Growth

GILD has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. Oppenheimer reduced their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company boosted their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the transaction, the chief financial officer now owns 168,174 shares in the company, valued at approximately $17,893,713.60. This represents a 1.46% 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, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the sale, the insider now directly owns 121,152 shares in the company, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,000 shares of company stock worth $4,630,310 over the last 90 days. 0.27% of the stock is currently owned by insiders.

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.