Grimes & Company Inc. Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Grimes & Company Inc. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,894 shares of the biopharmaceutical company’s stock after selling 14,135 shares during the quarter. Grimes & Company Inc.’s holdings in Gilead Sciences were worth $14,915,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $25,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Gilead Sciences in the 1st quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the 2nd quarter worth $33,000. Finally, Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 in the last 90 days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Performance

NASDAQ:GILD traded up $1.01 during trading hours on Thursday, hitting $88.24. 526,031 shares of the company traded hands, compared to its average volume of 7,017,568. The stock has a market capitalization of $109.93 billion, a price-to-earnings ratio of 245.53, a P/E/G ratio of 2.98 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $89.07. The firm has a 50-day moving average of $81.87 and a 200 day moving average of $73.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

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

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GILD. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Finally, Barclays boosted their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

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.