Donoghue Forlines LLC Sells 20,196 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Donoghue Forlines LLC reduced its stake in Gilead Sciences by 50.5%, currently holding a position worth $2.21 million after selling over 20,000 shares in the first quarter.
• Gilead Sciences reported earnings per share of $2.01 for the last quarter, beating analyst estimates, and a year-over-year revenue increase of 1.4%.
• The company also announced a quarterly dividend of $0.79 per share, representing a 2.6% dividend yield, with the ex-dividend date on September 15th.

Donoghue Forlines LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 50.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,758 shares of the biopharmaceutical company's stock after selling 20,196 shares during the quarter. Donoghue Forlines LLC's holdings in Gilead Sciences were worth $2,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GILD. Bridgewater Associates LP increased its stake in shares of Gilead Sciences by 122.7% during the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after acquiring an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Gilead Sciences by 5.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after acquiring an additional 14,009 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Gilead Sciences by 14.5% during the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 109 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Gilead Sciences by 54.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock valued at $3,422,000 after purchasing an additional 13,086 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $1,699,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $0.45 during trading hours on Tuesday, hitting $120.02. 6,084,059 shares of the company's stock traded hands, compared to its average volume of 8,406,134. Gilead Sciences, Inc. has a 52 week low of $72.67 and a 52 week high of $121.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The company's fifty day simple moving average is $111.16 and its two-hundred day simple moving average is $107.83. The company has a market cap of $148.92 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. During the same period last year, the company posted $2.01 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Analyst Ratings Changes

Several brokerages recently commented on GILD. UBS Group raised their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.82.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the completion of the sale, the chief financial officer directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,000 shares of company stock valued at $8,984,175. 0.27% of the stock is owned by company insiders.

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.