BTC Capital Management Inc. Has $5.31 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

BTC Capital Management Inc. trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,330 shares of the biopharmaceutical company's stock after selling 6,325 shares during the period. BTC Capital Management Inc.'s holdings in Gilead Sciences were worth $5,305,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Redwood Financial Network Corp lifted its position in shares of Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares in the last quarter. Nicolet Advisory Services LLC lifted 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 worth $322,000 after acquiring an additional 100 shares during the last quarter. CFO4Life Group LLC raised its holdings in Gilead Sciences by 2.7% in 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 during the last quarter. Howe & Rusling Inc. increased its position in Gilead Sciences by 2.5% during the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 115 shares during the period. Finally, Atalanta Sosnoff Capital LLC grew its position in shares of Gilead Sciences by 4.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 2,648 shares of the biopharmaceutical company's stock worth $245,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the transaction, the chief financial officer now owns 169,061 shares in the company, valued at $19,977,938.37. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,929 shares of company stock valued at $5,644,780 in the last quarter. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $1.17 during trading hours on Monday, hitting $108.91. The stock had a trading volume of 9,986,911 shares, compared to its average volume of 7,723,769. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year high of $119.96. The stock's fifty day moving average is $105.49 and its two-hundred day moving average is $100.90. The stock has a market capitalization of $135.48 billion, a price-to-earnings ratio of 294.35, a PEG ratio of 0.71 and a beta of 0.26.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. 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 company posted ($1.32) earnings per share. Gilead Sciences's revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 yield of 2.90%. The ex-dividend date is Friday, June 13th. Gilead Sciences's payout ratio is currently 66.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GILD. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

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.