Wealth Alliance LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 62.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,649 shares of the biopharmaceutical company’s stock after selling 4,400 shares during the quarter. Wealth Alliance LLC’s holdings in Gilead Sciences were worth $369,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of GILD. Norges Bank purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $2,617,152,000. Boston Partners purchased a new position in Gilead Sciences in the 4th quarter worth approximately $517,808,000. Massachusetts Financial Services Co. MA raised its holdings in Gilead Sciences by 3,763.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,223,304 shares of the biopharmaceutical company’s stock worth $518,368,000 after acquiring an additional 4,113,999 shares during the last quarter. Bank of America Corp DE lifted its position in Gilead Sciences by 15.2% in the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after acquiring an additional 3,046,688 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock valued at $14,863,487,000 after acquiring an additional 2,113,692 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences Price Performance
Shares of GILD opened at $129.31 on Monday. The firm has a fifty day simple moving average of $129.55 and a two-hundred day simple moving average of $135.62. The firm has a market cap of $160.55 billion, a PE ratio of 17.62 and a beta of 0.32. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.89. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29.
Gilead Sciences Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.5%. Gilead Sciences’s dividend payout ratio is currently 44.69%.
Insiders Place Their Bets
In other news, CFO Andrew D. Dickinson sold 3,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $125.40, for a total transaction of $376,200.00. Following the completion of the sale, the chief financial officer owned 171,646 shares of the company’s stock, valued at $21,524,408.40. This represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $126.29, for a total transaction of $1,894,350.00. Following the completion of the transaction, the chief executive officer owned 607,133 shares in the company, valued at $76,674,826.57. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 77,000 shares of company stock valued at $9,978,740. Insiders own 0.30% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Gilead Sciences in a report on Monday, July 6th. Leerink Partners downgraded Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $146.00 to $127.00 in a report on Tuesday, July 21st. Weiss Ratings cut Gilead Sciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Maxim Group raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Wednesday, May 20th. Twenty-five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $158.33.
View Our Latest Stock Analysis on Gilead Sciences
Gilead Sciences Company Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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