Pinnacle Bancorp Inc. Reduces Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Pinnacle Bancorp Inc. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 45.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 845 shares of the biopharmaceutical company’s stock after selling 692 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Gilead Sciences were worth $95,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after acquiring an additional 2,450 shares during the period. Wealthspire Advisors LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at about $248,000. IFP Advisors Inc increased its holdings in shares of Gilead Sciences by 146.4% in the fourth quarter. IFP Advisors Inc now owns 13,330 shares of the biopharmaceutical company’s stock valued at $1,231,000 after purchasing an additional 7,919 shares during the period. Rothschild Investment LLC raised its stake in shares of Gilead Sciences by 7.3% in the fourth quarter. Rothschild Investment LLC now owns 4,463 shares of the biopharmaceutical company’s stock worth $412,000 after purchasing an additional 303 shares during the last quarter. Finally, Acorn Wealth Advisors LLC acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $217,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now owns 168,174 shares in the company, valued at $17,893,713.60. This trade represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $330,510.00. Following the completion of the transaction, the insider now owns 120,168 shares in the company, valued at $13,238,908.56. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock worth $5,236,245 in the last quarter. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Stock Down 1.2%

Shares of NASDAQ GILD opened at $105.93 on Thursday. The stock has a market cap of $131.77 billion, a PE ratio of 22.30, a P/E/G ratio of 0.69 and a beta of 0.29. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 12-month low of $66.01 and a 12-month high of $119.96. The company has a 50-day moving average of $106.21 and a 200 day moving average of $103.03.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same period in the prior year, the business earned ($1.32) earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 66.53%.

Analyst Ratings Changes

GILD has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Oppenheimer cut their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Finally, Bank of America upped their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.55.

Gilead Sciences Company 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.