Brighton Jones LLC Sells 1,197 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Brighton Jones LLC cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,152 shares of the biopharmaceutical company’s stock after selling 1,197 shares during the period. Brighton Jones LLC’s holdings in Gilead Sciences were worth $984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brookstone Capital Management increased its holdings in Gilead Sciences by 10.6% during the third quarter. Brookstone Capital Management now owns 14,547 shares of the biopharmaceutical company’s stock worth $1,141,000 after buying an additional 1,390 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Gilead Sciences by 46.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 202,220 shares of the biopharmaceutical company’s stock worth $15,154,000 after purchasing an additional 64,569 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Gilead Sciences by 3.3% in the 3rd quarter. Mission Wealth Management LP now owns 10,719 shares of the biopharmaceutical company’s stock worth $803,000 after purchasing an additional 340 shares during the period. Raymond James & Associates grew its holdings in Gilead Sciences by 13.5% during the third quarter. Raymond James & Associates now owns 2,325,094 shares of the biopharmaceutical company’s stock valued at $174,242,000 after purchasing an additional 276,676 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Gilead Sciences by 7.9% in the third quarter. Stratos Wealth Partners LTD. now owns 107,544 shares of the biopharmaceutical company’s stock worth $8,059,000 after buying an additional 7,920 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GILD has been the topic of several research reports. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Morgan Stanley dropped their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald decreased their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Truist Financial downgraded Gilead Sciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Hold” and a consensus target price of $83.69.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $65.51 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market cap of $81.57 billion, a P/E ratio of 181.97, a P/E/G ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 1-year low of $64.63 and a 1-year high of $87.86. The firm has a 50-day moving average of $70.87 and a 200-day moving average of $76.01.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Gilead Sciences’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.70%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

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.