Sunbelt Securities Inc. Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Sunbelt Securities Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,103 shares of the biopharmaceutical company’s stock after selling 193 shares during the quarter. Sunbelt Securities Inc.’s holdings in Gilead Sciences were worth $682,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GILD. PCA Investment Advisory Services Inc. purchased a new stake in Gilead Sciences in the 2nd quarter valued at $25,000. OFI Invest Asset Management purchased a new stake in Gilead Sciences in the 3rd quarter valued at $26,000. Tompkins Financial Corp grew its holdings in Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares in the last quarter. Union Savings Bank purchased a new stake in Gilead Sciences in the 2nd quarter valued at $29,000. Finally, Providence Capital Advisors LLC grew its holdings in Gilead Sciences by 102.9% in the 2nd quarter. Providence Capital Advisors LLC now owns 424 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 82.33% of the company’s stock.

Insider Activity

In related news, insider Johanna Mercier sold 8,242 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total transaction of $702,465.66. Following the transaction, the insider now owns 82,729 shares in the company, valued at approximately $7,050,992.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 8,242 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total value of $702,465.66. Following the transaction, the insider now owns 82,729 shares in the company, valued at approximately $7,050,992.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,242 shares of company stock worth $1,277,726. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Barclays lowered their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Royal Bank of Canada lowered their price target on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald decreased their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.36.

Get Our Latest Stock Analysis on GILD

Gilead Sciences Trading Down 2.3 %

GILD opened at $74.21 on Friday. Gilead Sciences, Inc. has a one year low of $71.37 and a one year high of $87.86. The company has a market cap of $92.45 billion, a P/E ratio of 16.49, a PEG ratio of 0.96 and a beta of 0.18. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The business’s 50-day simple moving average is $77.32 and its 200-day simple moving average is $77.47.

Gilead Sciences (NASDAQ:GILDGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the previous year, the company posted $1.67 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.07 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio is presently 66.67%.

Gilead Sciences Profile

(Free Report)

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.

See Also

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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