Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 82.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,250 shares of the biopharmaceutical company's stock after selling 10,325 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Gilead Sciences were worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter worth $33,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Gilead Sciences by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 216 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth $35,000. Whipplewood Advisors LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth $35,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth $40,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.7%

Shares of NASDAQ:GILD traded down $0.79 during trading on Wednesday, reaching $109.30. 6,413,391 shares of the stock were exchanged, compared to its average volume of 7,741,190. 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 12-month low of $62.69 and a 12-month high of $119.96. The firm has a market cap of $135.96 billion, a price-to-earnings ratio of 295.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. The firm's 50-day moving average price is $105.36 and its 200 day moving average price is $101.86.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share 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 analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Gilead Sciences's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.32) EPS. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio is presently 66.53%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Oppenheimer cut 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. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average price target of $110.55.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $4,630,310 in the last 90 days. 0.27% of the stock is owned by company insiders.

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.