Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,255,140 shares of the biopharmaceutical company's stock after selling 68,462 shares during the period. Rhumbline Advisers owned about 0.18% of Gilead Sciences worth $252,688,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GILD. HHM Wealth Advisors LLC lifted its holdings in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 154 shares during the period. YANKCOM Partnership acquired a new position in Gilead Sciences during the fourth quarter worth approximately $28,000. Crews Bank & Trust acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $31,000. Stephens Consulting LLC increased its holdings in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 260 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Buying and Selling

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares of the company's stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the sale, the chief financial officer now owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,929 shares of company stock worth $6,748,980. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Piper Sandler boosted their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Oppenheimer reduced 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. BMO Capital Markets increased their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. 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 research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $110.55.

Gilead Sciences Stock Up 2.7%

Shares of Gilead Sciences stock traded up $2.89 during trading hours on Thursday, reaching $111.91. 3,325,480 shares of the company were exchanged, compared to its average volume of 8,878,403. The firm has a market cap of $139.21 billion, a PE ratio of 302.46, a PEG ratio of 0.71 and a beta of 0.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a 1 year low of $62.69 and a 1 year high of $119.96. The stock's fifty day moving average is $105.40 and its 200 day moving average is $101.15.

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 for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Gilead Sciences's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.32) EPS. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.82%. Gilead Sciences's payout ratio is 66.53%.

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.