Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 367,477 shares of the biopharmaceutical company’s stock after selling 13,774 shares during the period. Corebridge Financial Inc.’s holdings in Gilead Sciences were worth $33,944,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GILD. Bellevue Group AG boosted its position in Gilead Sciences by 18.2% during the third 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 boosted its position in shares of 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. McAdam LLC grew its stake in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock valued at $2,344,000 after acquiring an additional 3,627 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock valued at $35,793,000 after acquiring an additional 9,791 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Gilead Sciences by 3.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company’s stock valued at $13,132,000 after acquiring an additional 5,382 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Bank of America increased their target price on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.52.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 302,785 shares of company stock worth $30,503,250. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Trading Up 1.1 %

NASDAQ GILD opened at $107.08 on Monday. The firm has a market capitalization of $133.35 billion, a price-to-earnings ratio of 289.41, a PEG ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The company’s 50 day moving average price is $103.68 and its 200 day moving average price is $93.96.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

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.