SlateStone Wealth LLC Sells 891 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

SlateStone Wealth LLC decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 11,377 shares of the biopharmaceutical company’s stock after selling 891 shares during the quarter. SlateStone Wealth LLC’s holdings in Gilead Sciences were worth $922,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GILD. OFI Invest Asset Management bought a new position in Gilead Sciences during the 3rd quarter worth approximately $26,000. Tompkins Financial Corp raised its holdings in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the last quarter. Fortitude Family Office LLC bought a new position in Gilead Sciences during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. bought a new position in Gilead Sciences during the 4th quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences during the 4th quarter worth approximately $40,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.6 %

Gilead Sciences stock traded up $0.37 during mid-day trading on Tuesday, hitting $67.32. The company’s stock had a trading volume of 2,363,959 shares, compared to its average volume of 7,264,965. The company has a 50 day moving average of $71.81 and a 200-day moving average of $76.51. The stock has a market cap of $83.82 billion, a PE ratio of 14.88, a P/E/G ratio of 0.92 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences, Inc. has a one year low of $65.90 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $7.10 billion. During the same period last year, the company earned $1.67 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts anticipate that Gilead Sciences, Inc. will post 6.55 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.77 per share. 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%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is 68.44%.

Wall Street Analyst Weigh In

GILD has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a research report on Friday. Cantor Fitzgerald reduced their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Wells Fargo & Company reduced their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Finally, Royal Bank of Canada reduced their price target 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.71.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

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.