Advisors Asset Management Inc. Decreases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Advisors Asset Management Inc. lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 254,836 shares of the biopharmaceutical company’s stock after selling 18,896 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gilead Sciences were worth $21,365,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the 2nd quarter worth approximately $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $87.75 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The firm has a market capitalization of $109.36 billion, a P/E ratio of 975.00, a P/E/G ratio of 2.74 and a beta of 0.17. The firm’s 50 day moving average is $86.99 and its two-hundred day moving average is $76.44.

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 analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. Research analysts forecast that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.51%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,947 shares of company stock valued at $4,968,674 over the last quarter. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Monday. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.00.

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.