Allworth Financial LP Sells 8,687 Shares of Gilead Sciences, Inc. $GILD

Allworth Financial LP trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,192 shares of the biopharmaceutical company's stock after selling 8,687 shares during the quarter. Allworth Financial LP's holdings in Gilead Sciences were worth $5,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GILD. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $25,000. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $25,000. Kimelman & Baird LLC acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth $25,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Gilead Sciences by 71.4% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Finally, Quattro Advisors LLC bought a new position in shares of Gilead Sciences in the fourth quarter worth $26,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Buying and Selling

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the completion of the transaction, the director owned 12,894 shares in the company, valued at approximately $1,916,306.28. This trade represents a 58.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O'Day sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the transaction, the chief executive officer owned 592,133 shares of the company's stock, valued at approximately $77,160,851.23. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,000 shares of company stock valued at $14,495,820 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings lowered shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an "overweight" rating and set a $155.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Finally, Zacks Research upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Trading Down 0.7%

NASDAQ GILD opened at $145.65 on Thursday. The company has a market cap of $180.60 billion, a price-to-earnings ratio of -54.55 and a beta of 0.33. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business's fifty day moving average is $137.96 and its 200 day moving average is $136.28.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $2.01 earnings per share. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is -122.85%.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company's research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.