Cardinal Capital Management Inc. Sells 1,635 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cardinal Capital Management Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,120 shares of the biopharmaceutical company’s stock after selling 1,635 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Gilead Sciences were worth $14,036,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GILD. ST Germain D J Co. Inc. increased its holdings in Gilead Sciences by 15.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,246 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 560 shares in the last quarter. Heritage Wealth Management LLC grew its holdings in Gilead Sciences by 54.6% during the 4th quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 130 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Gilead Sciences by 187.9% during the first quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 263 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Gilead Sciences in the fourth quarter worth $33,000. Finally, Venturi Wealth Management LLC bought a new position in Gilead Sciences during the 1st quarter worth $36,000. Institutional investors and hedge funds own 82.33% of the company’s stock.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 107,587 shares in the company, valued at approximately $8,606,960. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now owns 107,587 shares in the company, valued at $8,606,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total transaction of $115,561.99. Following the sale, the insider now owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Barclays dropped their price objective on Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, July 24th. Royal Bank of Canada lifted their target price on Gilead Sciences from $83.00 to $84.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Bank of America upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $95.00 in a research note on Friday, September 8th. Finally, HSBC started coverage on shares of Gilead Sciences in a research note on Wednesday, September 6th. They set a “reduce” rating and a $71.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $1.69 during midday trading on Friday, hitting $75.67. The company’s stock had a trading volume of 11,145,107 shares, compared to its average volume of 5,806,953. The stock has a fifty day moving average price of $77.26 and a 200 day moving average price of $78.84. The firm has a market capitalization of $94.29 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.83 and a beta of 0.37. Gilead Sciences, Inc. has a one year low of $61.44 and a one year high of $89.74. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.07.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.30). Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the business posted $1.58 EPS. Gilead Sciences’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Gilead Sciences, Inc. will post 6.64 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is currently 68.97%.

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.