Concord Wealth Partners Sells 8,209 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Concord Wealth Partners decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 87.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,166 shares of the biopharmaceutical company's stock after selling 8,209 shares during the quarter. Concord Wealth Partners' holdings in Gilead Sciences were worth $131,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Gilead Sciences during the first quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in Gilead Sciences in the first quarter valued at about $29,000. Core Alternative Capital increased its stake in Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 241 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised 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 buying an additional 216 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in shares of Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

GILD stock traded down $0.58 during trading on Friday, hitting $108.22. The company had a trading volume of 6,627,889 shares, compared to its average volume of 7,664,711. Gilead Sciences, Inc. has a fifty-two week low of $70.78 and a fifty-two week high of $119.96. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $134.62 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 0.71 and a beta of 0.29. The business has a 50 day moving average of $108.58 and a 200 day moving average of $105.06.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business 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 company's quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. Gilead Sciences's dividend payout ratio (DPR) is currently 66.53%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several analyst reports. Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Cantor Fitzgerald assumed 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. Finally, Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.38.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares in the company, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction on Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the sale, the chief executive officer directly owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,000 shares of company stock valued at $7,844,775. 0.27% of the stock is currently owned by company insiders.

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.