TIAA Trust National Association Sells 1,574 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

TIAA Trust National Association trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 35,164 shares of the biopharmaceutical company’s stock after selling 1,574 shares during the quarter. TIAA Trust National Association’s holdings in Gilead Sciences were worth $2,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Essex Savings Bank raised its stake in Gilead Sciences by 5.6% in the fourth quarter. Essex Savings Bank now owns 4,547 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 240 shares in the last quarter. Silverlake Wealth Management LLC acquired a new position in Gilead Sciences in the fourth quarter valued at about $209,000. Allen Mooney & Barnes Investment Advisors LLC raised its stake in Gilead Sciences by 1.0% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 21,038 shares of the biopharmaceutical company’s stock worth $1,704,000 after acquiring an additional 212 shares in the last quarter. Chicago Capital LLC raised its stake in Gilead Sciences by 7.0% during the fourth quarter. Chicago Capital LLC now owns 4,594 shares of the biopharmaceutical company’s stock worth $372,000 after acquiring an additional 300 shares in the last quarter. Finally, Mirador Capital Partners LP raised its stake in Gilead Sciences by 7.2% during the fourth quarter. Mirador Capital Partners LP now owns 11,144 shares of the biopharmaceutical company’s stock worth $903,000 after acquiring an additional 744 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $72.09 on Wednesday. The stock has a market capitalization of $89.76 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.92 and a beta of 0.19. Gilead Sciences, Inc. has a 52-week low of $71.37 and a 52-week high of $87.86. The stock’s 50 day moving average price is $74.46 and its two-hundred day moving average price is $77.20. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILDGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Gilead Sciences’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.07 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.27%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is presently 68.44%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GILD shares. Oppenheimer lowered their target price on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Barclays lowered their price objective on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Cantor Fitzgerald lowered their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Mizuho lowered their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada lowered their price objective on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.36.

Check Out Our Latest Report on GILD

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the sale, the chief financial officer now directly owns 101,534 shares of the company’s stock, valued at approximately $8,709,586.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at $7,386,496.48. The disclosure for this sale can be found here. In the last three months, insiders sold 17,242 shares of company stock valued at $1,423,646. 0.21% of the stock is owned by insiders.

About Gilead Sciences

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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