Envestnet Portfolio Solutions Inc. Sells 41,974 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 37.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,798 shares of the biopharmaceutical company's stock after selling 41,974 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Gilead Sciences were worth $7,821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its position in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock worth $3,293,822,000 after acquiring an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Gilead Sciences by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after acquiring an additional 749,047 shares during the last quarter. Norges Bank bought a new position in shares of Gilead Sciences during the fourth quarter worth about $1,789,254,000. Finally, Northern Trust Corp grew its position in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Trading Up 0.5%

Shares of GILD traded up $0.50 during midday trading on Friday, hitting $108.50. The stock had a trading volume of 23,266,621 shares, compared to its average volume of 7,661,575. Gilead Sciences, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $119.96. The business has a 50-day simple moving average of $106.16 and a two-hundred day simple moving average of $102.81. The firm has a market cap of $134.97 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same period last year, the company posted ($1.32) earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced 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. This represents a $3.16 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GILD. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. 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 target 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. Wells Fargo & Company upped their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Bank of America raised their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and an average price target of $110.55.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the sale, the chief financial officer now directly owns 165,674 shares of the company's stock, valued at $16,537,578.68. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the sale, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock worth $5,236,245 over the last ninety days. 0.27% of the stock is currently 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.