Forum Financial Management LP Reduces Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Forum Financial Management LP lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 26.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,239 shares of the biopharmaceutical company's stock after selling 6,286 shares during the quarter. Forum Financial Management LP's holdings in Gilead Sciences were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC raised its stake in Gilead Sciences by 2.9% during the first quarter. Kingsview Wealth Management LLC now owns 43,251 shares of the biopharmaceutical company's stock valued at $4,846,000 after buying an additional 1,237 shares during the last quarter. Graypoint LLC raised its stake in Gilead Sciences by 8.6% during the first quarter. Graypoint LLC now owns 12,156 shares of the biopharmaceutical company's stock valued at $1,362,000 after buying an additional 965 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in Gilead Sciences by 7.3% during the first quarter. Mayflower Financial Advisors LLC now owns 3,676 shares of the biopharmaceutical company's stock valued at $412,000 after buying an additional 249 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in Gilead Sciences during the first quarter valued at $414,000. Finally, Welch & Forbes LLC raised its stake in Gilead Sciences by 1.2% during the first quarter. Welch & Forbes LLC now owns 27,424 shares of the biopharmaceutical company's stock valued at $3,073,000 after buying an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director directly owned 8,920 shares in the company, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the transaction, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This represents a 2.50% decrease in their ownership of the stock. 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. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Morgan Stanley boosted their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Oppenheimer decreased their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $111.38.

Gilead Sciences Trading Down 0.5%

GILD stock traded down $0.58 during midday trading on Friday, reaching $108.22. 6,627,889 shares of the company traded hands, compared to its average volume of 7,666,525. Gilead Sciences, Inc. has a 52-week low of $70.78 and a 52-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 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 quarterly 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. 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%. Gilead Sciences's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned ($1.32) EPS. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. 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.