Byrne Asset Management LLC Sells 270 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Byrne Asset Management LLC lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,960 shares of the biopharmaceutical company’s stock after selling 270 shares during the quarter. Byrne Asset Management LLC’s holdings in Gilead Sciences were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $1,789,254,000. FMR LLC lifted its holdings in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock valued at $285,761,000 after purchasing an additional 2,532,070 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $207,340,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Oppenheimer reduced their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.55.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the sale, the chief financial officer now owns 165,674 shares in the company, valued at $16,537,578.68. The trade was a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,000 shares of company stock worth $4,630,310 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Down 1.8%

GILD opened at $109.98 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $119.96. The firm’s fifty day moving average is $105.67 and its 200 day moving average is $102.19. The stock has a market cap of $136.81 billion, a price-to-earnings ratio of 297.24, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the previous year, the company earned ($1.32) EPS. Gilead Sciences’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, June 13th. Gilead Sciences’s payout ratio is currently 66.53%.

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.