Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by CGN Advisors LLC

CGN Advisors LLC cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,171 shares of the biopharmaceutical company's stock after selling 4,785 shares during the period. CGN Advisors LLC's holdings in Gilead Sciences were worth $2,932,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GILD. Unigestion Holding SA acquired a new position in Gilead Sciences in the 1st quarter valued at about $4,325,000. HBW Advisory Services LLC increased its holdings in shares of Gilead Sciences by 8.4% in the first quarter. HBW Advisory Services LLC now owns 3,365 shares of the biopharmaceutical company's stock valued at $377,000 after purchasing an additional 262 shares during the period. Merit Financial Group LLC raised its stake in shares of Gilead Sciences by 48.3% during the first quarter. Merit Financial Group LLC now owns 29,229 shares of the biopharmaceutical company's stock worth $3,275,000 after purchasing an additional 9,522 shares during the last quarter. Milestone Asset Management LLC grew its position in Gilead Sciences by 170.9% in the 1st quarter. Milestone Asset Management LLC now owns 60,343 shares of the biopharmaceutical company's stock valued at $6,761,000 after buying an additional 38,066 shares during the last quarter. Finally, Fragasso Financial Advisors Inc acquired a new position in Gilead Sciences in the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GILD. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Bank of America lifted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Piper Sandler increased their price objective on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets increased their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Nine 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 stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target of $110.55.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now owns 168,174 shares of the company's stock, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now owns 620,268 shares of the company's stock, valued at $68,489,992.56. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,929 shares of company stock valued at $6,748,980 in the last ninety days. Company insiders own 0.27% of the company's stock.

Gilead Sciences Trading Down 0.3%

Shares of Gilead Sciences stock traded down $0.31 during trading hours on Wednesday, reaching $109.02. 7,963,204 shares of the company's stock were exchanged, compared to its average volume of 7,730,101. The firm has a market capitalization of $135.61 billion, a price-to-earnings ratio of 294.65, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company has a fifty day moving average of $105.45 and a 200-day moving average of $101.10.

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

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is 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 presently 66.53%.

Gilead Sciences 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.