Linscomb Wealth Inc. Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Linscomb Wealth Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% during the third quarter, Holdings Channel reports. The institutional investor owned 8,170 shares of the biopharmaceutical company’s stock after selling 1,076 shares during the quarter. Linscomb Wealth Inc.’s holdings in Gilead Sciences were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Capital World Investors boosted its holdings in shares of Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Legal & General Group Plc boosted its stake in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after purchasing an additional 268,208 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Gilead Sciences by 24.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Down 4.0 %

Shares of GILD opened at $88.40 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm’s fifty day moving average is $86.68 and its two-hundred day moving average is $75.96. The stock has a market cap of $110.17 billion, a PE ratio of 982.22, a price-to-earnings-growth ratio of 2.85 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 4.39 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GILD shares. BMO Capital Markets raised their price target on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wolfe Research started coverage on shares of Gilead Sciences in a research report on Friday. They set an “outperform” rating and a $110.00 price target for the company. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Cantor Fitzgerald raised their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $93.86.

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.