Cresset Asset Management LLC Sells 74,671 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cresset Asset Management LLC cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,954 shares of the biopharmaceutical company's stock after selling 74,671 shares during the quarter. Cresset Asset Management LLC's holdings in Gilead Sciences were worth $7,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nicolet Advisory Services LLC grew its holdings in shares of Gilead Sciences by 2.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock worth $322,000 after purchasing an additional 100 shares in the last quarter. Southland Equity Partners LLC grew its stake in Gilead Sciences by 3.6% in the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock worth $289,000 after buying an additional 110 shares in the last quarter. Berkshire Bank increased its holdings in shares of Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 111 shares during the last quarter. CFO4Life Group LLC raised its position in shares of Gilead Sciences by 2.7% during the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after buying an additional 112 shares in the last quarter. Finally, Howe & Rusling Inc. lifted its holdings in shares of Gilead Sciences by 2.5% during the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock worth $435,000 after acquiring an additional 115 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total transaction of $260,225.00. Following the sale, the chief financial officer now directly owns 169,061 shares in the company, valued at approximately $17,597,559.49. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 160,605 shares of company stock valued at $16,718,136. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GILD. Royal Bank of Canada raised their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. DZ Bank raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Finally, Bank of America upped their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Nine research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.55.

Gilead Sciences Stock Down 1.3 %

NASDAQ GILD traded down $1.30 during trading hours on Friday, reaching $96.86. 13,140,489 shares of the company's stock traded hands, compared to its average volume of 7,595,228. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The firm has a 50-day simple moving average of $107.23 and a 200 day simple moving average of $99.32. The firm has a market cap of $120.61 billion, a PE ratio of 261.78, a PEG ratio of 0.71 and a beta of 0.26.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period in the previous year, the firm posted ($1.32) EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

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.