Avanza Fonder AB Sells 7,454 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Avanza Fonder AB lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,661 shares of the biopharmaceutical company’s stock after selling 7,454 shares during the quarter. Avanza Fonder AB’s holdings in Gilead Sciences were worth $13,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Gilead Sciences during the fourth quarter valued at about $33,000. Morton Brown Family Wealth LLC bought a new stake in Gilead Sciences during the fourth quarter valued at about $35,000. Whipplewood Advisors LLC bought a new stake in Gilead Sciences during the fourth quarter valued at about $35,000. Finally, Synergy Investment Management LLC bought a new stake in Gilead Sciences during the fourth quarter valued at about $40,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.5%

Shares of GILD stock opened at $113.00 on Tuesday. The stock has a 50 day moving average of $105.41 and a 200 day moving average of $101.80. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The stock has a market cap of $140.56 billion, a P/E ratio of 305.41, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned ($1.32) earnings per share. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the sale, the chief financial officer now directly owns 168,174 shares of the company’s stock, valued at approximately $17,893,713.60. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,000 shares of company stock worth $4,630,310. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America increased their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Piper Sandler increased their price target on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price target on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.55.

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.