Crestwood Advisors Group LLC Sells 5,053 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Crestwood Advisors Group LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 31.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,060 shares of the biopharmaceutical company’s stock after selling 5,053 shares during the period. Crestwood Advisors Group LLC’s holdings in Gilead Sciences were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GILD. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences in the fourth quarter worth about $29,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. Sachetta LLC purchased a new stake in Gilead Sciences in the fourth quarter worth about $30,000. Palisade Asset Management LLC purchased a new stake in Gilead Sciences in the first quarter worth about $29,000. Finally, Gladius Capital Management LP purchased a new stake in Gilead Sciences in the fourth quarter worth about $34,000. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GILD has been the topic of a number of recent research reports. Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets increased their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.94.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 0.6 %

Shares of GILD stock opened at $79.00 on Tuesday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $73.26 and its 200 day moving average is $70.35. The stock has a market capitalization of $98.35 billion, a P/E ratio of 219.44, a P/E/G ratio of 2.74 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.90%. Gilead Sciences’s payout ratio is presently 855.56%.

About Gilead Sciences

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.