Steel Grove Capital Advisors LLC Sells 2,422 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Steel Grove Capital Advisors LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,510 shares of the biopharmaceutical company's stock after selling 2,422 shares during the period. Steel Grove Capital Advisors LLC's holdings in Gilead Sciences were worth $2,079,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Bridgewater Associates LP raised its stake in Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after buying an additional 253,994 shares during the period. McAdam LLC raised its stake in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock valued at $2,344,000 after acquiring an additional 3,627 shares during the period. Capital Investment Advisors LLC lifted its holdings in Gilead Sciences by 2.6% during the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company's stock valued at $35,793,000 after purchasing an additional 9,791 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Gilead Sciences by 3.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company's stock worth $13,132,000 after purchasing an additional 5,382 shares during the period. Finally, Global Financial Private Client LLC increased its holdings in shares of Gilead Sciences by 1,222.0% in the fourth quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company's stock valued at $561,000 after purchasing an additional 5,609 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GILD shares. Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday. They issued an "overweight" rating and a $125.00 target price on the stock. Bank of America lifted their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada lifted their target price on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $108.42.

Gilead Sciences Price Performance

Shares of GILD traded down $2.98 during trading hours on Friday, reaching $103.17. The stock had a trading volume of 14,207,970 shares, compared to its average volume of 7,526,289. 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 12 month low of $62.07 and a 12 month high of $119.96. The stock has a market capitalization of $128.46 billion, a PE ratio of 278.84, a PEG ratio of 0.71 and a beta of 0.32. The company's 50-day moving average is $109.21 and its two-hundred day moving average is $98.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.73 by $0.08. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. During the same period last year, the company earned ($1.32) earnings per share. Research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is currently 854.05%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,174 shares in the company, valued at $17,893,713.60. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 302,785 shares of company stock valued at $30,540,875. Insiders own 0.27% of the company's stock.

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.