Procyon Advisors LLC Sells 11,367 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Procyon Advisors LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 33.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,947 shares of the biopharmaceutical company's stock after selling 11,367 shares during the quarter. Procyon Advisors LLC's holdings in Gilead Sciences were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GILD. Brighton Jones LLC grew its stake in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Gilead Sciences by 10.5% during the 4th quarter. Bleakley Financial Group LLC now owns 25,484 shares of the biopharmaceutical company's stock worth $2,354,000 after acquiring an additional 2,414 shares during the period. YANKCOM Partnership bought a new position in shares of Gilead Sciences during the 4th quarter worth $28,000. Adero Partners LLC bought a new position in shares of Gilead Sciences during the 4th quarter worth $230,000. Finally, Beacon Financial Advisory LLC bought a new position in shares of Gilead Sciences during the 4th quarter worth $206,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded up $2.00 during trading hours on Friday, reaching $112.46. 5,263,529 shares of the stock traded hands, compared to its average volume of 7,751,413. The company has a market capitalization of $139.89 billion, a P/E ratio of 303.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company's 50-day simple moving average is $105.39 and its two-hundred day simple moving average is $101.56.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion for 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 revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted ($1.32) EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.81%. Gilead Sciences's payout ratio is 66.53%.

Insider Buying and Selling

In other news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 17,929 shares of Gilead Sciences stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the sale, the chief financial officer now owns 169,061 shares in the company, valued at approximately $19,977,938.37. This represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,929 shares of company stock worth $6,748,980 in the last ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GILD. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Bank of America increased their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada increased their price target on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets raised their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target 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.