Valmark Advisers Inc. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Valmark Advisers Inc. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,236 shares of the biopharmaceutical company’s stock after selling 726 shares during the period. Valmark Advisers Inc.’s holdings in Gilead Sciences were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in Gilead Sciences during the third quarter valued at $26,000. Tompkins Financial Corp increased its position in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC bought a new position in Gilead Sciences during the fourth quarter valued at $29,000. Rakuten Securities Inc. bought a new position in Gilead Sciences during the fourth quarter valued at $33,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences during the fourth quarter valued at $40,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GILD. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday. UBS Group cut their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Mizuho lowered their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company lowered their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.87.

Gilead Sciences Stock Up 0.2 %

NASDAQ:GILD opened at $65.42 on Monday. Gilead Sciences, Inc. has a 1-year low of $64.63 and a 1-year high of $87.86. The company has a 50-day moving average of $71.28 and a 200 day moving average of $76.25. The firm has a market cap of $81.45 billion, a PE ratio of 181.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 3.82 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.71%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.