Envestnet Asset Management Inc. Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Envestnet Asset Management Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,809,407 shares of the biopharmaceutical company's stock after selling 336,251 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Gilead Sciences worth $202,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Chilton Capital Management LLC lifted its holdings in Gilead Sciences by 125,738.5% during the first quarter. Chilton Capital Management LLC now owns 235,318 shares of the biopharmaceutical company's stock valued at $26,367,000 after purchasing an additional 235,131 shares during the last quarter. Argentarii LLC increased its position in shares of Gilead Sciences by 3.0% during the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after buying an additional 99 shares during the period. Jackson Wealth Management LLC bought a new stake in shares of Gilead Sciences during the first quarter valued at about $461,000. McGlone Suttner Wealth Management Inc. increased its position in shares of Gilead Sciences by 38.4% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 4,062 shares of the biopharmaceutical company's stock valued at $455,000 after buying an additional 1,126 shares during the period. Finally, Core Alternative Capital increased its position in shares of Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 241 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $111.06 on Wednesday. The firm has a market cap of $138.15 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a fifty-two week low of $66.34 and a fifty-two week high of $119.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The business has a 50 day moving average price of $107.26 and a 200-day moving average price of $104.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.32) earnings per share. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GILD. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Oppenheimer decreased their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Morgan Stanley upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $111.38.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer owned 165,110 shares of the company's stock, valued at $18,190,168.70. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $110.45, for a total value 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 $68,006,826.25. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock valued at $6,340,745 over the last quarter. 0.27% of the stock is 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.

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