Allspring Global Investments Holdings LLC Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 34.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 887,939 shares of the biopharmaceutical company's stock after selling 465,506 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Gilead Sciences worth $71,932,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GILD. PCA Investment Advisory Services Inc. bought a new position in Gilead Sciences in the 2nd quarter valued at $25,000. OFI Invest Asset Management bought a new position in Gilead Sciences in the third quarter valued at about $26,000. Tompkins Financial Corp increased its position in Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 241 shares during the period. Fortitude Family Office LLC bought a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Gilead Sciences during the 4th quarter valued at about $33,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 2.6 %

Shares of NASDAQ:GILD traded down $1.82 during midday trading on Wednesday, reaching $68.12. 7,982,082 shares of the company were exchanged, compared to its average volume of 7,419,017. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. The firm has a market cap of $84.81 billion, a PE ratio of 15.14, a P/E/G ratio of 0.88 and a beta of 0.19. The stock has a fifty day simple moving average of $73.16 and a two-hundred day simple moving average of $76.92. Gilead Sciences, Inc. has a fifty-two week low of $68.06 and a fifty-two week high of $87.86.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.07 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences's dividend payout ratio is 68.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GILD. Royal Bank of Canada lowered their price target on shares of Gilead Sciences from $76.00 to $75.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 14th. Barclays cut their price target on Gilead Sciences from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, February 12th. Oppenheimer decreased their price objective on Gilead Sciences from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, February 12th. StockNews.com raised Gilead Sciences from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an "equal weight" rating for the company in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $85.36.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total value of $428,900.00. Following the sale, the chief financial officer now owns 101,534 shares of the company's stock, valued at approximately $8,709,586.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now owns 100,936 shares of the company's stock, valued at $7,386,496.48. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock worth $721,180 in the last ninety days. Insiders own 0.29% of the company's stock.

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.