Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 331,910 shares of the biopharmaceutical company's stock after selling 48,361 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Gilead Sciences were worth $36,935,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GILD. Redwood Financial Network Corp boosted its stake in Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after buying an additional 98 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Gilead Sciences by 2.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock worth $322,000 after acquiring an additional 100 shares during the period. Peak Financial Advisors LLC boosted its position in shares of Gilead Sciences by 1.7% in the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after acquiring an additional 100 shares during the last quarter. Perkins Coie Trust Co grew its holdings in Gilead Sciences by 2.6% in the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. increased its position in Gilead Sciences by 33.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $275,425.00. Following the completion of the sale, the chief financial officer owned 165,110 shares in the company, valued at $18,190,168.70. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the sale, the chief executive officer directly owned 620,268 shares in the company, valued at $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $6,340,745 in the last quarter. Insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 0.2%

Shares of GILD stock traded down $0.24 during mid-day trading on Friday, reaching $111.28. 4,039,811 shares of the company were exchanged, compared to its average volume of 7,692,289. 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's 50 day simple moving average is $106.85 and its 200 day simple moving average is $103.80. The company has a market capitalization of $138.42 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.32) EPS. Research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's payout ratio is currently 66.53%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Oppenheimer dropped 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, 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 objective on the stock. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

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.