Principal Financial Group Inc. Sells 61,828 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Principal Financial Group Inc. reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,392,068 shares of the biopharmaceutical company’s stock after selling 61,828 shares during the period. Principal Financial Group Inc.’s holdings in Gilead Sciences were worth $95,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares in the last quarter. Sachetta LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $30,000. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $29,000. Finally, Gladius Capital Management LP bought a new stake in Gilead Sciences during the fourth quarter worth about $34,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $79.00 on Friday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The firm has a market cap of $98.42 billion, a price-to-earnings ratio of 219.44, a P/E/G ratio of 3.37 and a beta of 0.18. The stock’s fifty day moving average price is $72.93 and its two-hundred day moving average price is $70.32.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Truist Financial upped their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.94.

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.