CGN Advisors LLC Sells 759 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

CGN Advisors LLC decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,956 shares of the biopharmaceutical company’s stock after selling 759 shares during the quarter. CGN Advisors LLC’s holdings in Gilead Sciences were worth $2,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GILD. Premier Path Wealth Partners LLC raised its stake in Gilead Sciences by 89.2% during the 4th quarter. Premier Path Wealth Partners LLC now owns 8,052 shares of the biopharmaceutical company’s stock valued at $744,000 after purchasing an additional 3,797 shares during the period. Verity & Verity LLC grew its holdings in Gilead Sciences by 2.9% during the 4th quarter. Verity & Verity LLC now owns 378,102 shares of the biopharmaceutical company’s stock valued at $34,925,000 after buying an additional 10,771 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Gilead Sciences by 12.5% in the fourth quarter. Brooklyn Investment Group now owns 5,953 shares of the biopharmaceutical company’s stock worth $550,000 after buying an additional 662 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Gilead Sciences by 40.0% during the fourth quarter. Merit Financial Group LLC now owns 19,707 shares of the biopharmaceutical company’s stock worth $1,820,000 after acquiring an additional 5,635 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in shares of Gilead Sciences by 7.1% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,390 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $87.00 to $113.00 in a research note on Friday, January 10th. Bank of America reissued a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Robert W. Baird increased their target price on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 456,234 shares of company stock worth $42,130,461. 0.29% of the stock is owned by corporate insiders.

Gilead Sciences Stock Up 0.2 %

GILD stock opened at $91.84 on Friday. The firm’s fifty day moving average is $91.85 and its 200 day moving average is $83.81. The firm has a market cap of $114.46 billion, a PE ratio of 1,020.44, a P/E/G ratio of 1.27 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results 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. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. On average, research analysts forecast that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

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.