Griffin Asset Management Inc. Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Griffin Asset Management Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the first quarter, Holdings Channel reports. The institutional investor owned 16,550 shares of the biopharmaceutical company’s stock after selling 417 shares during the period. Griffin Asset Management Inc.’s holdings in Gilead Sciences were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tompkins Financial Corp boosted its stake in shares of 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 acquiring an additional 241 shares during the period. Fortitude Family Office LLC purchased a new position in Gilead Sciences in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in Gilead Sciences in the 4th quarter worth approximately $29,000. Sachetta LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $33,000. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. TD Cowen dropped their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 26th. Barclays reduced their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Wells Fargo & Company dropped their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Finally, UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Trading Down 0.3 %

GILD stock opened at $68.61 on Friday. The firm’s fifty day simple moving average is $65.98 and its two-hundred day simple moving average is $72.58. The stock has a market capitalization of $85.48 billion, a price-to-earnings ratio of 190.58, a price-to-earnings-growth ratio of 2.92 and a beta of 0.20. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the firm posted $1.37 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

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.