1900 Wealth Management LLC Sells 1,272 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

1900 Wealth Management LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 26.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,566 shares of the biopharmaceutical company’s stock after selling 1,272 shares during the quarter. 1900 Wealth Management LLC’s holdings in Gilead Sciences were worth $289,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in shares of Gilead Sciences by 0.9% in the 3rd quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after purchasing an additional 158,794 shares during the period. Northern Trust Corp lifted its position in Gilead Sciences by 3.5% during the third quarter. Northern Trust Corp now owns 14,922,488 shares of the biopharmaceutical company’s stock valued at $1,118,291,000 after acquiring an additional 504,475 shares during the last quarter. Pacer Advisors Inc. lifted its position in Gilead Sciences by 10.8% during the fourth quarter. Pacer Advisors Inc. now owns 5,046,652 shares of the biopharmaceutical company’s stock valued at $408,829,000 after acquiring an additional 493,920 shares during the last quarter. AQR Capital Management LLC lifted its position in Gilead Sciences by 12.5% during the third quarter. AQR Capital Management LLC now owns 4,773,688 shares of the biopharmaceutical company’s stock valued at $357,740,000 after acquiring an additional 531,314 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Gilead Sciences by 179.0% during the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after acquiring an additional 2,915,141 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 14th. StockNews.com downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday. Cantor Fitzgerald decreased their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, UBS Group cut their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Hold” and a consensus target price of $84.71.

Gilead Sciences Stock Up 0.4 %

Shares of NASDAQ:GILD traded up $0.28 during trading on Tuesday, hitting $67.23. 1,468,088 shares of the company were exchanged, compared to its average volume of 7,253,361. The stock has a market capitalization of $83.71 billion, a P/E ratio of 14.88, a PEG ratio of 0.92 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. Gilead Sciences, Inc. has a 12-month low of $65.90 and a 12-month high of $87.86. The firm’s 50 day moving average price is $71.81 and its 200-day moving average price is $76.51.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.58%. Gilead Sciences’s dividend payout ratio is 68.44%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Gilead Sciences

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.