Principal Financial Group Inc. Sells 8,272 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Principal Financial Group Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,446,386 shares of the biopharmaceutical company's stock after selling 8,272 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Gilead Sciences worth $162,068,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences during the first quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences during the first quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Gilead Sciences by 158.8% during the fourth 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. Synergy Investment Management LLC bought a new position in shares of Gilead Sciences during the fourth quarter worth approximately $40,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Gilead Sciences during the fourth quarter worth approximately $41,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $275,425.00. Following the transaction, the chief financial officer directly owned 165,110 shares of the company's stock, valued at $18,190,168.70. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock valued at $6,340,745 over the last quarter. Insiders own 0.27% of the company's stock.

Gilead Sciences Trading Down 0.2%

NASDAQ GILD traded down $0.24 during mid-day trading on Friday, reaching $111.28. 4,039,811 shares of the stock were exchanged, compared to its average volume of 7,706,267. Gilead Sciences, Inc. has a one year low of $66.34 and a one year high of $119.96. The stock has a 50 day simple moving average of $107.02 and a 200-day simple moving average of $104.02. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its 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. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter last year, the firm earned ($1.32) earnings per share. Gilead Sciences's quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on GILD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Oppenheimer decreased their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Morgan Stanley lifted 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. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $110.55.

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.