Grimes & Company Inc. Reduces Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Grimes & Company Inc. decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 163,619 shares of the biopharmaceutical company’s stock after selling 15,810 shares during the quarter. Grimes & Company Inc.’s holdings in Gilead Sciences were worth $18,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. Brighton Jones LLC boosted its holdings in Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after acquiring an additional 2,450 shares during the period. Everhart Financial Group Inc. bought a new position in shares of Gilead Sciences in the 4th quarter worth $239,000. Principal Securities Inc. raised its position in shares of Gilead Sciences by 45.0% in the 4th quarter. Principal Securities Inc. now owns 14,404 shares of the biopharmaceutical company’s stock worth $1,330,000 after acquiring an additional 4,468 shares in the last quarter. Allworth Financial LP increased its position in Gilead Sciences by 24.8% during the 4th quarter. Allworth Financial LP now owns 35,953 shares of the biopharmaceutical company’s stock valued at $3,345,000 after buying an additional 7,143 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Gilead Sciences by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company’s stock valued at $1,256,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 now owns 121,152 shares of the company’s stock, valued at $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now directly owns 620,268 shares of the company’s stock, valued at $68,489,992.56. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,000 shares of company stock valued at $4,630,310. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on GILD shares. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Wells Fargo & Company upped their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Oppenheimer reduced their target price on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Stock Up 0.8%

Shares of GILD opened at $110.83 on Tuesday. Gilead Sciences, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $137.86 billion, a price-to-earnings ratio of 299.54, a PEG ratio of 0.71 and a beta of 0.29. The stock’s 50-day moving average price is $105.82 and its 200-day moving average price is $102.45.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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. The company had revenue of $6.67 billion during 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 quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.32) EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.85%. Gilead Sciences’s payout ratio is 66.53%.

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.