Dearborn Partners LLC Sells 13,906 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Dearborn Partners LLC decreased its stake in Gilead Sciences, Inc. by 15.4%, selling 13,906 shares during the first quarter, leaving them with 76,495 shares valued at approximately $8.57 million.
• Several institutional investors have recently acquired new stakes in Gilead, with notable increases including Core Alternative Capital's stake rising by 370.8%.
• Insiders have sold a total of 82,000 shares of Gilead stock over the last three months, indicating a significant decrease in their ownership, with Jeffrey Bluestone and Johanna Mercier being among those selling shares.

Dearborn Partners LLC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,495 shares of the biopharmaceutical company's stock after selling 13,906 shares during the period. Dearborn Partners LLC's holdings in Gilead Sciences were worth $8,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position 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 purchasing an additional 216 shares during the period. Core Alternative Capital raised its position in shares of Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $39,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 121,152 shares in the company, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Down 0.0%

NASDAQ GILD traded down $0.04 during trading on Friday, hitting $112.25. 665,766 shares of the company traded hands, compared to its average volume of 8,396,990. Gilead Sciences, Inc. has a 12 month low of $72.43 and a 12 month high of $119.96. The business has a fifty day simple moving average of $110.40 and a 200 day simple moving average of $106.55. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $139.63 billion, a P/E ratio of 23.61, a PEG ratio of 0.72 and a beta of 0.29.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GILD shares. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research report on Friday, July 25th. Oppenheimer dropped their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Eight 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 presently has an average rating of "Moderate Buy" and a consensus target price of $112.36.

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.