Trillium Asset Management LLC Sells 40,297 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Trillium Asset Management LLC has reduced its stake in Gilead Sciences by 27.7%, selling 40,297 shares during the first quarter, now holding a total of 105,156 shares valued at approximately $11.78 million.
• Several hedge funds have modified their positions in Gilead, with notable increases from Core Alternative Capital (up 370.8%) and Clearstead Trust LLC (up 287.6%).
• Gilead Sciences announced a quarterly dividend of $0.79 per share, with a payout ratio of 62.95%, reflecting a dividend yield of 2.6%.

Trillium Asset Management LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 27.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,156 shares of the biopharmaceutical company's stock after selling 40,297 shares during the period. Trillium Asset Management LLC's holdings in Gilead Sciences were worth $11,783,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $29,000. Core Alternative Capital lifted its position in shares of Gilead Sciences by 370.8% in 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. IMA Advisory Services Inc. purchased a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $39,000. Finally, Clearstead Trust LLC lifted its position in shares of Gilead Sciences by 287.6% in the 1st quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 279 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their target price for the company from $108.00 to $127.00 in a research report on Friday. Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. UBS Group increased their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

Gilead Sciences Stock Up 0.9%

NASDAQ:GILD opened at $120.47 on Tuesday. The firm has a market capitalization of $149.48 billion, a P/E ratio of 24.00, a PEG ratio of 0.75 and a beta of 0.33. Gilead Sciences, Inc. has a 1-year low of $72.43 and a 1-year high of $121.38. The company's fifty day moving average price is $111.16 and its 200-day moving average price is $107.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.79 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio is presently 62.95%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $333,090.00. Following the sale, the insider owned 117,168 shares in the company, valued at approximately $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the sale, the chief executive officer owned 605,725 shares in the company, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 over the last ninety days. 0.27% of the stock is owned by insiders.

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.

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