Gilead Sciences, Inc. (NASDAQ:GILD) Position Reduced by Procyon Advisors LLC

Procyon Advisors LLC reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,314 shares of the biopharmaceutical company’s stock after selling 1,930 shares during the period. Procyon Advisors LLC’s holdings in Gilead Sciences were worth $3,170,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bellevue Group AG grew its position in Gilead Sciences by 18.2% during the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after purchasing an additional 7,093 shares in the last quarter. Quantinno Capital Management LP lifted its position in Gilead Sciences by 149.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after buying an additional 48,910 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares during the period. IRON Financial LLC acquired a new position in shares of Gilead Sciences in the third quarter worth $830,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Gilead Sciences by 12.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 323,011 shares of the biopharmaceutical company’s stock valued at $27,081,000 after purchasing an additional 36,895 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $91.65 on Friday. The stock has a 50-day moving average of $91.97 and a 200-day moving average of $83.76. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The stock has a market cap of $114.22 billion, a PE ratio of 1,018.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS 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 the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued 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 yield of 3.36%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 99,599 shares of the company’s stock, 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 quarter, insiders have sold 456,234 shares of company stock valued at $42,130,461. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. UBS Group upped their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $87.00 to $113.00 in a research note on Friday, January 10th. Finally, Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

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.