Castleview Partners LLC Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Castleview Partners LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,714 shares of the biopharmaceutical company’s stock after selling 460 shares during the quarter. Castleview Partners LLC’s holdings in Gilead Sciences were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock valued at $3,724,306,000 after buying an additional 7,157,113 shares in the last quarter. Wellington Management Group LLP grew its holdings in Gilead Sciences by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock valued at $3,293,822,000 after buying an additional 1,058,331 shares in the last quarter. Geode Capital Management LLC grew its holdings in Gilead Sciences by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock valued at $2,608,337,000 after buying an additional 749,047 shares in the last quarter. Norges Bank purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $1,789,254,000. Finally, Northern Trust Corp grew its holdings in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after buying an additional 2,458,954 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Morgan Stanley raised their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 target price for the company. Nine investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.55.

Gilead Sciences Stock Up 0.5%

NASDAQ:GILD opened at $108.50 on Friday. Gilead Sciences, Inc. has a twelve month low of $66.01 and a twelve month high of $119.96. The company has a market cap of $134.97 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The stock has a fifty day simple moving average of $106.16 and a 200-day simple moving average of $102.74. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16.

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, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same period last year, the company earned ($1.32) earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.91%. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the transaction, the chief financial officer now owns 168,174 shares in the company, valued at approximately $17,893,713.60. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,500 shares of company stock worth $5,236,245. Company insiders own 0.27% of the company’s stock.

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.