Brookstone Capital Management Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Brookstone Capital Management lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,440 shares of the biopharmaceutical company's stock after selling 28,012 shares during the quarter. Brookstone Capital Management's holdings in Gilead Sciences were worth $13,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences in the first quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 acquiring an additional 216 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $40,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Gilead Sciences in the fourth quarter worth $41,000. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated 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 transaction, the insider owned 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $275,425.00. Following the sale, the chief financial officer directly owned 165,110 shares in the company, valued at $18,190,168.70. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock valued at $6,340,745 in the last three months. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GILD shares. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Morgan Stanley boosted their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Oppenheimer dropped their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target of $110.55.

Gilead Sciences Price Performance

GILD stock traded down $0.24 during midday trading on Friday, hitting $111.28. The company's stock had a trading volume of 4,039,811 shares, compared to its average volume of 7,692,289. Gilead Sciences, Inc. has a 12 month low of $66.01 and a 12 month high of $119.96. The company has a 50 day moving average of $106.85 and a two-hundred day moving average of $103.80. 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 capitalization of $138.42 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced 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. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter in the previous year, the company earned ($1.32) EPS. The business's quarterly revenue was down .3% compared to the same quarter last year. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.84%. Gilead Sciences's dividend payout ratio (DPR) is currently 66.53%.

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.