Cohen Klingenstein LLC Sells 15,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cohen Klingenstein LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,700 shares of the biopharmaceutical company's stock after selling 15,000 shares during the period. Cohen Klingenstein LLC's holdings in Gilead Sciences were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GILD. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC grew its holdings in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Cedar Wealth Management LLC boosted its stake in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the second quarter worth about $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 456,234 shares of company stock worth $42,130,461 over the last three months. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley raised Gilead Sciences from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $87.00 to $113.00 in a research note on Friday, January 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $84.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. UBS Group increased their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a "neutral" rating in a report on Thursday, November 21st. Mizuho boosted their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Finally, Wolfe Research initiated coverage on Gilead Sciences in a research note on Friday, November 15th. They set an "outperform" rating and a $110.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.96.

Gilead Sciences Stock Up 0.2 %

GILD stock traded up $0.19 during mid-day trading on Friday, hitting $91.84. The stock had a trading volume of 6,852,085 shares, compared to its average volume of 5,370,915. The stock has a market capitalization of $114.46 billion, a price-to-earnings ratio of 1,020.44, a PEG ratio of 1.27 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a fifty day moving average of $91.75 and a 200 day moving average of $84.08.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. On average, equities analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, December 13th. Gilead Sciences's payout ratio is 3,422.22%.

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.