Summit X LLC Sells 901 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Summit X LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% during the 1st quarter, HoldingsChannel reports. The firm owned 21,554 shares of the biopharmaceutical company’s stock after selling 901 shares during the period. Summit X LLC’s holdings in Gilead Sciences were worth $2,415,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GILD. Redwood Financial Network Corp grew its position in Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 98 shares in the last quarter. Argentarii LLC lifted its stake in Gilead Sciences by 3.0% in the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company’s stock valued at $380,000 after buying an additional 99 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in shares of Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 100 shares during the period. Peak Financial Advisors LLC raised its position in Gilead Sciences by 1.7% in the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company’s stock worth $677,000 after acquiring an additional 100 shares in the last quarter. Finally, Perkins Coie Trust Co grew its holdings in Gilead Sciences by 2.6% in the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company’s stock valued at $435,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the sale, the chief executive officer owned 615,725 shares in the company, valued at approximately $68,006,826.25. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the sale, the director owned 8,920 shares of the company’s stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $6,623,445 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Price Performance

GILD stock opened at $109.06 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a 1 year low of $70.33 and a 1 year high of $119.96. The firm has a market cap of $135.66 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The stock has a 50-day simple moving average of $108.15 and a 200-day simple moving average of $104.91.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same quarter last year, the firm earned ($1.32) earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict 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 was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.79 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.90%. Gilead Sciences’s dividend payout ratio (DPR) is currently 66.53%.

Analyst Ratings Changes

GILD has been the topic of several recent research reports. JPMorgan Chase & Co. upped 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. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective on the stock. Morgan Stanley upped their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Oppenheimer reduced their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.38.

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.