Phoenix Financial Ltd. Sells 13,079 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Phoenix Financial Ltd. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 76.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,945 shares of the biopharmaceutical company's stock after selling 13,079 shares during the period. Phoenix Financial Ltd.'s holdings in Gilead Sciences were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $581,000. Westside Investment Management Inc. increased its position in shares of Gilead Sciences by 3.5% during the third quarter. Westside Investment Management Inc. now owns 27,443 shares of the biopharmaceutical company's stock worth $2,249,000 after purchasing an additional 917 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Gilead Sciences by 5.4% in the third quarter. SkyView Investment Advisors LLC now owns 8,482 shares of the biopharmaceutical company's stock valued at $711,000 after buying an additional 435 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $209,000. Finally, Sanctuary Advisors LLC boosted its stake in Gilead Sciences by 28.8% during the third quarter. Sanctuary Advisors LLC now owns 183,289 shares of the biopharmaceutical company's stock worth $16,531,000 after buying an additional 40,951 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.17 during mid-day trading on Wednesday, reaching $105.85. 1,628,791 shares of the stock were exchanged, compared to its average volume of 8,882,417. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average price of $108.63 and a 200 day moving average price of $97.11. The firm has a market capitalization of $131.80 billion, a PE ratio of 286.08, a PEG ratio of 0.71 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.99%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, March 14th. Gilead Sciences's payout ratio is currently 854.05%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 137,676 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the transaction, the chief financial officer now owns 171,223 shares in the company, valued at $17,502,415.06. This trade represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 300,285 shares of company stock valued at $30,274,875. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price on the stock in a report on Thursday, February 13th. Oppenheimer boosted their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Morgan Stanley lifted their target price on Gilead Sciences from $123.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $105.12.

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.