Harbor Capital Advisors Inc. Sells 27,173 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Harbor Capital Advisors Inc. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 98.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448 shares of the biopharmaceutical company’s stock after selling 27,173 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Gilead Sciences were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Gilead Sciences in the fourth quarter valued at approximately $1,789,254,000. FMR LLC raised its stake in Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares in the last quarter. GAMMA Investing LLC raised its stake in Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock worth $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Northern Trust Corp grew its holdings in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $207,340,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the transaction, the chief financial officer now owns 168,174 shares in the company, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the transaction, the insider now owns 121,152 shares of the company’s stock, valued at $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,000 shares of company stock worth $4,630,310. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on GILD shares. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Gilead Sciences Price Performance

Shares of GILD opened at $109.98 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The stock has a fifty day moving average price of $105.67 and a 200 day moving average price of $102.33. The company has a market cap of $136.81 billion, a P/E ratio of 297.24, a PEG ratio of 0.71 and a beta of 0.29.

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

Gilead Sciences Dividend Announcement

The company 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 dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 66.53%.

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.