Gilead Sciences, Inc. (NASDAQ:GILD) Stock Holdings Cut by Meritage Portfolio Management

Meritage Portfolio Management trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,280 shares of the biopharmaceutical company's stock after selling 2,596 shares during the period. Meritage Portfolio Management's holdings in Gilead Sciences were worth $5,858,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GILD. Resonant Capital Advisors LLC boosted its holdings in Gilead Sciences by 8.2% during the first quarter. Resonant Capital Advisors LLC now owns 18,909 shares of the biopharmaceutical company's stock worth $2,119,000 after buying an additional 1,427 shares in the last quarter. Capital Investment Counsel Inc purchased a new position in Gilead Sciences in the 1st quarter valued at about $230,000. Novem Group acquired a new stake in Gilead Sciences during the first quarter worth approximately $409,000. American Capital Advisory LLC grew its position in shares of Gilead Sciences by 4,555.0% in the first quarter. American Capital Advisory LLC now owns 931 shares of the biopharmaceutical company's stock valued at $104,000 after purchasing an additional 911 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its position in Gilead Sciences by 216.4% during the first quarter. Moody Lynn & Lieberson LLC now owns 67,407 shares of the biopharmaceutical company's stock worth $7,553,000 after purchasing an additional 46,100 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the sale, the chief executive officer owned 615,725 shares of the company's stock, valued at $68,006,826.25. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $330,510.00. Following the completion of the transaction, the insider owned 120,168 shares of the company's stock, valued at approximately $13,238,908.56. This trade represents a 2.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,500 shares of company stock valued at $6,340,745. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GILD shares. Morgan Stanley boosted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. 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. JPMorgan Chase & Co. raised their price objective on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine research 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. Based on data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $110.55.

Gilead Sciences Stock Down 0.2%

Shares of Gilead Sciences stock traded down $0.24 during trading on Friday, reaching $111.28. The company had a trading volume of 4,039,811 shares, compared to its average volume of 7,692,289. The company has a market cap of $138.42 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth 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. The firm's fifty day moving average is $106.85 and its 200-day moving average is $103.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37.

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

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.84%. The ex-dividend date 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.