Bogart Wealth LLC Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Bogart Wealth LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,681 shares of the biopharmaceutical company’s stock after selling 1,070 shares during the period. Bogart Wealth LLC’s holdings in Gilead Sciences were worth $5,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Gilead Sciences in the 3rd quarter valued at approximately $26,000. Tompkins Financial Corp increased its position 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 in the last quarter. Fortitude Family Office LLC acquired a new position in Gilead Sciences in the 4th quarter valued at about $29,000. Rakuten Securities Inc. purchased a new position in Gilead Sciences in the 4th quarter valued at about $33,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $40,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on GILD shares. TD Cowen decreased their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. UBS Group cut their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Truist Financial downgraded Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Finally, Wells Fargo & Company dropped their price target on 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. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.69.

Gilead Sciences Trading Down 0.1 %

Shares of GILD traded down $0.04 during midday trading on Thursday, hitting $64.88. The stock had a trading volume of 722,590 shares, compared to its average volume of 7,351,445. Gilead Sciences, Inc. has a fifty-two week low of $64.33 and a fifty-two week high of $87.86. The business has a 50-day simple moving average of $70.25 and a two-hundred day simple moving average of $75.60. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market cap of $80.78 billion, a P/E ratio of 180.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.75%. Gilead Sciences’s dividend payout ratio is 855.56%.

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.