Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 493,517 shares of the biopharmaceutical company’s stock after selling 79,928 shares during the quarter. Truist Financial Corp’s holdings in Gilead Sciences were worth $39,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kovack Advisors Inc. boosted its stake in shares of Gilead Sciences by 7.0% in the 4th quarter. Kovack Advisors Inc. now owns 10,495 shares of the biopharmaceutical company’s stock valued at $850,000 after buying an additional 685 shares during the period. K.J. Harrison & Partners Inc purchased a new position in shares of Gilead Sciences in the 4th quarter valued at about $621,000. Callan Capital LLC purchased a new stake in Gilead Sciences during the fourth quarter worth approximately $375,000. Bryn Mawr Capital Management LLC purchased a new stake in Gilead Sciences during the fourth quarter worth approximately $231,000. Finally, Motley Fool Asset Management LLC lifted its stake in Gilead Sciences by 6.0% during the fourth quarter. Motley Fool Asset Management LLC now owns 37,509 shares of the biopharmaceutical company’s stock worth $3,039,000 after purchasing an additional 2,135 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GILD shares. Mizuho decreased their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Friday. Cantor Fitzgerald cut their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, TD Cowen cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Hold” and an average price target of $83.87.

Gilead Sciences Stock Up 0.2 %

GILD opened at $65.42 on Monday. The business’s fifty day moving average is $71.28 and its two-hundred day moving average is $76.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. The company has a market cap of $81.45 billion, a price-to-earnings ratio of 181.72, a PEG ratio of 1.29 and a beta of 0.19. Gilead Sciences, Inc. has a one year low of $64.63 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. Analysts anticipate that Gilead Sciences, Inc. will post 3.82 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Gilead Sciences’s dividend 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.