Granite Group Advisors LLC Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Granite Group Advisors LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,554 shares of the biopharmaceutical company’s stock after selling 1,935 shares during the period. Gilead Sciences comprises approximately 1.4% of Granite Group Advisors LLC’s holdings, making the stock its 20th largest holding. Granite Group Advisors LLC’s holdings in Gilead Sciences were worth $2,176,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its holdings in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares during the period. Southland Equity Partners LLC increased its holdings in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 110 shares during the period. Concord Asset Management LLC VA increased its holdings in Gilead Sciences by 3.8% during the 3rd 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 period. TFB Advisors LLC increased its holdings in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the period. Finally, Sumitomo Life Insurance Co. increased its holdings in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup assumed coverage on Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective on the stock. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Mizuho increased their price objective on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Daiwa America upgraded Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $84.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Eleven research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.96.

Gilead Sciences Stock Up 0.2 %

GILD opened at $93.07 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The business has a 50 day simple moving average of $91.74 and a 200-day simple moving average of $84.98. The stock has a market capitalization of $115.99 billion, a P/E ratio of 1,034.11, a P/E/G ratio of 1.31 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released 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. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period last year, the business posted $2.29 EPS. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock valued at $42,130,461 in the last ninety days. Corporate insiders own 0.16% 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.