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

Raleigh Capital Management Inc. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 36.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,135 shares of the biopharmaceutical company's stock after selling 11,048 shares during the quarter. Gilead Sciences comprises approximately 1.0% of Raleigh Capital Management Inc.'s holdings, making the stock its 20th largest holding. Raleigh Capital Management Inc.'s holdings in Gilead Sciences were worth $2,144,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GILD. Brighton Jones LLC lifted its position in shares of Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Gilead Sciences during the fourth quarter worth $339,000. PNC Financial Services Group Inc. lifted its position in shares of Gilead Sciences by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 393,801 shares of the biopharmaceutical company's stock worth $36,375,000 after purchasing an additional 3,626 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Gilead Sciences by 17.5% during the fourth quarter. Larson Financial Group LLC now owns 9,205 shares of the biopharmaceutical company's stock worth $850,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of Gilead Sciences during the fourth quarter worth $92,000. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Gilead Sciences Stock Performance

NASDAQ GILD traded down $0.72 during trading hours on Tuesday, reaching $111.06. The stock had a trading volume of 4,682,217 shares, compared to its average volume of 7,699,011. The stock has a fifty day moving average of $107.12 and a 200 day moving average of $104.25. The stock has a market cap of $138.15 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 52-week low of $66.34 and a 52-week high of $119.96. 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 quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the prior year, the firm posted ($1.32) EPS. The business's quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.85%. Gilead Sciences's dividend payout ratio is presently 66.53%.

Analyst Ratings Changes

Several analysts recently weighed in on GILD shares. Oppenheimer decreased their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. Morgan Stanley lifted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine investment 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. According to MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Company 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.