Cornerstone Advisors LLC Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Cornerstone Advisors LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,500 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Cornerstone Advisors LLC’s holdings in Gilead Sciences were worth $4,425,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. One Capital Management LLC grew its position in shares of Gilead Sciences by 36.8% in the 2nd quarter. One Capital Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $398,000 after buying an additional 1,560 shares during the last quarter. Sierra Summit Advisors LLC purchased a new stake in Gilead Sciences in the second quarter worth $783,000. Dimensional Fund Advisors LP boosted its holdings in Gilead Sciences by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after acquiring an additional 268,208 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Gilead Sciences by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 85,804 shares of the biopharmaceutical company’s stock valued at $5,887,000 after purchasing an additional 522 shares during the period. Finally, Greenwich Wealth Management LLC raised its holdings in Gilead Sciences by 4.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 7,683 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 299 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,002,940 over the last three months. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Gilead Sciences Price Performance

Shares of GILD opened at $82.81 on Monday. The company has a market capitalization of $103.10 billion, a P/E ratio of 230.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $75.48 and a 200 day moving average of $70.84.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is presently 855.56%.

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.