NorthCrest Asset Manangement LLC Purchases 1,366 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

NorthCrest Asset Manangement LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,039 shares of the biopharmaceutical company’s stock after purchasing an additional 1,366 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Gilead Sciences were worth $13,114,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GILD. Brighton Jones LLC raised its holdings in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after acquiring an additional 2,450 shares in the last quarter. Savant Capital LLC raised its holdings in Gilead Sciences by 2.0% during the fourth quarter. Savant Capital LLC now owns 27,921 shares of the biopharmaceutical company’s stock worth $2,579,000 after acquiring an additional 558 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Gilead Sciences during the fourth quarter worth about $55,000. Sovran Advisors LLC bought a new stake in Gilead Sciences during the fourth quarter worth about $506,000. Finally, Quent Capital LLC raised its holdings in Gilead Sciences by 42.5% during the fourth quarter. Quent Capital LLC now owns 2,717 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 811 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $112.05 on Friday. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The stock’s 50 day moving average is $105.54 and its 200-day moving average is $102.06. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $139.38 billion, a price-to-earnings ratio of 302.84, a PEG ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.32) earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total value of $249,550.00. Following the sale, the chief financial officer now owns 165,674 shares of the company’s stock, valued at $16,537,578.68. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,000 shares of company stock valued at $4,630,310 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the topic of several analyst reports. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Thursday, February 13th. Bank of America upped their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price target on the stock. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Profile

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.