Cullen Frost Bankers Inc. Sells 606 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cullen Frost Bankers Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,405 shares of the biopharmaceutical company’s stock after selling 606 shares during the period. Cullen Frost Bankers Inc.’s holdings in Gilead Sciences were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Nilsine Partners LLC raised its stake in Gilead Sciences by 1.1% in the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after purchasing an additional 127 shares in the last quarter. Etesian Wealth Advisors Inc. raised its holdings in Gilead Sciences by 0.7% during the 4th quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after buying an additional 128 shares during the last quarter. Financial Counselors Inc. boosted its position in Gilead Sciences by 1.5% during the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 128 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after acquiring an additional 130 shares during the period. Finally, Institutional & Family Asset Management LLC raised its stake in shares of Gilead Sciences by 10.3% during the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 140 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GILD shares. Cantor Fitzgerald decreased their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research note on Wednesday, April 24th. TD Cowen lowered their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 26th. Royal Bank of Canada reduced their target price on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Finally, Barclays lowered their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has an average rating of “Hold” and an average target price of $83.69.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $64.79 on Friday. The firm’s 50 day moving average price is $70.09 and its 200-day moving average price is $75.52. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $80.67 billion, a PE ratio of 179.39, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a twelve month low of $64.33 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. Equities research analysts expect that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.75%. Gilead Sciences’s payout ratio is currently 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.