Principal Street Partners LLC Sells 21,930 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Principal Street Partners LLC cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 22.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,992 shares of the biopharmaceutical company's stock after selling 21,930 shares during the quarter. Gilead Sciences accounts for about 1.0% of Principal Street Partners LLC's portfolio, making the stock its 25th biggest position. Principal Street Partners LLC's holdings in Gilead Sciences were worth $6,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Gilead Sciences by 1.2% in the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company's stock valued at $782,000 after acquiring an additional 108 shares in the last quarter. Concord Asset Management LLC VA boosted its position in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company's stock worth $256,000 after purchasing an additional 111 shares during the last quarter. TFB Advisors LLC grew its stake in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company's stock valued at $788,000 after purchasing an additional 116 shares during the period. Sumitomo Life Insurance Co. increased its position in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock valued at $1,494,000 after purchasing an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. raised its stake in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock worth $450,000 after purchasing an additional 117 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.86 during midday trading on Tuesday, hitting $91.35. The company had a trading volume of 4,405,536 shares, compared to its average volume of 7,085,437. The company has a market capitalization of $113.85 billion, a PE ratio of 1,005.44, a P/E/G ratio of 2.80 and a beta of 0.17. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The stock's fifty day moving average price is $87.58 and its 200-day moving average price is $77.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.37%. Gilead Sciences's dividend payout ratio (DPR) is 3,422.22%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,947 shares of company stock valued at $4,968,674. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GILD. Oppenheimer raised their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Wolfe Research started coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an "outperform" rating and a $110.00 price target on the stock. Wells Fargo & Company increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Truist Financial upped their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, UBS Group increased their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a "neutral" rating in a research note on Thursday, November 21st. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target of $95.41.

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.