First Foundation Advisors Sells 255 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

First Foundation Advisors decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 23,201 shares of the biopharmaceutical company’s stock after selling 255 shares during the quarter. First Foundation Advisors’ holdings in Gilead Sciences were worth $1,592,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Wealth Management Group LLC bought a new position in Gilead Sciences in the fourth quarter valued at about $29,000. CarsonAllaria Wealth Management Ltd. raised its holdings in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. Sachetta LLC acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $30,000. Palisade Asset Management LLC bought a new stake in shares of Gilead Sciences in the 1st quarter valued at $29,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Gilead Sciences during the fourth quarter worth $36,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial boosted their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 0.6 %

GILD opened at $79.17 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The firm has a market capitalization of $98.57 billion, a P/E ratio of 219.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.18. The company has a fifty day moving average price of $74.27 and a 200-day moving average price of $70.59.

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

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend 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.