Insider Selling at Gilead Sciences: CFO Offloads Shares

On March 10th, 2023, Andrew D. Dickinson, the Chief Financial Officer (CFO) of Gilead Sciences, Inc. (NASDAQ:GILD), sold 17,929 shares of the company’s stock. The sale was executed at an average price of $118.17 per share, resulting in a transaction totaling approximately $2,118,669.93.

After this transaction, Dickinson holds a total of 169,061 shares of Gilead Sciences, which is currently valued around $19,977,938.37. This represents a decrease of 9.59% in his ownership stake in the company.

The sale was officially reported through a legal filing with the Securities and Exchange Commission (SEC), ensuring transparency in the transaction process.

Gilead Sciences Stock Performance

Following the CFO's sale, Gilead Sciences' stock price saw a minor decrease. On the following Wednesday, the stock traded down by 0.4%, falling to $113.99. During this trading session, a total of 8,065,860 shares changed hands, slightly below the average trading volume of 8,248,752 shares.

The stock has demonstrated a range over the past year, reaching a twelve-month low of $62.07 and a high of $119.96. Key financial metrics reveal a market capitalization of $141.96 billion, a price-to-earnings (P/E) ratio of 308.08, and a P/E growth (P/E/G) ratio of 0.71. Gilead's debt-to-equity ratio stands at 1.24, with a current ratio of 1.50 and a quick ratio of 1.20.

Recent Earnings Report

Gilead Sciences recently announced its earnings results for the quarter ended February 11th, where it reported earnings of $1.90 per share. This figure exceeded the consensus estimate of $1.67 by $0.23, indicating strong performance. The company also reported a return on equity of 31.63% and a net margin of 1.67%. Analysts anticipate that Gilead will post earnings per share (EPS) of 7.95 for the current year.

Dividend Announcement

In addition to the insider selling news, Gilead Sciences has also announced a quarterly dividend to be paid on March 28th. Shareholders recorded on March 14th will receive a dividend of $0.79. This marks an increase from the previous quarterly dividend of $0.77, leading to an annualized dividend of $3.16 and a dividend yield of 2.77%. However, it's worth noting that the company's dividend payout ratio is currently very high at 854.05%.

Analyst Ratings and Institutional Trading

The stock has attracted attention from several analysts recently. JPMorgan Chase & Co. upgraded their price target for Gilead Sciences from $105 to $115, recommending an "overweight" rating. Other firms, such as Needham & Company and Morgan Stanley, have also provided insights, with Morgan Stanley increasing its target to $130.

In terms of institutional trading, several significant investors have recently adjusted their positions in Gilead. Norges Bank invested approximately $1.79 billion during the last quarter, while FMR LLC increased its holdings by over 79%. Currently, institutional investors and hedge funds own about 83.67% of Gilead's shares.

Company Overview

Gilead Sciences, Inc. is a biopharmaceutical company that focuses on discovering, developing, and marketing innovative medicines to address unmet medical needs globally. Products include treatments for HIV/AIDS, COVID-19, and viral hepatitis, among others.

With the recent developments surrounding insider sales, earnings, and the company's strategic financial decisions, investors and market analysts continue to watch Gilead Sciences closely.

Insider, Selling, Stocks