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

Corebridge Financial Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 367,477 shares of the biopharmaceutical company’s stock after selling 13,774 shares during the quarter. Corebridge Financial Inc.’s holdings in Gilead Sciences were worth $33,944,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Southland Equity Partners LLC increased its stake in Gilead Sciences by 3.6% in the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 110 shares in the last quarter. Berkshire Bank boosted its holdings in shares of Gilead Sciences by 3.4% in the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 111 shares during the period. CFO4Life Group LLC boosted its holdings in shares of Gilead Sciences by 2.7% in the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock worth $394,000 after buying an additional 112 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Gilead Sciences by 1.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company’s stock worth $1,049,000 after acquiring an additional 122 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Gilead Sciences by 1.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company’s stock valued at $1,256,000 after acquiring an additional 135 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 in the last 90 days. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GILD shares. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Oppenheimer lifted their target price on Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Bank of America increased their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.52.

Gilead Sciences Trading Up 1.1 %

NASDAQ:GILD opened at $107.08 on Monday. The company’s 50 day moving average is $103.68 and its 200-day moving average is $93.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. The firm has a market cap of $133.35 billion, a price-to-earnings ratio of 289.41, a P/E/G ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (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%. Equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

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.