Advisors Asset Management Inc. Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Advisors Asset Management Inc. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,576 shares of the biopharmaceutical company’s stock after selling 29,260 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gilead Sciences were worth $20,836,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Avior Wealth Management LLC grew its position in shares of Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 108 shares during the last quarter. Southland Equity Partners LLC grew its position in shares of Gilead Sciences by 3.6% during the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 110 shares during the last quarter. Berkshire Bank grew its position in shares of Gilead Sciences by 3.4% during the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 111 shares during the last quarter. CFO4Life Group LLC grew its position in shares of Gilead Sciences by 2.7% during the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock worth $394,000 after acquiring an additional 112 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Gilead Sciences by 1.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company’s stock worth $1,049,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GILD shares. BMO Capital Markets raised their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Thursday, February 13th. Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Piper Sandler increased their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Oppenheimer increased their price target on Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.52.

Gilead Sciences Stock Up 0.7 %

GILD opened at $112.26 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The stock has a market capitalization of $139.80 billion, a price-to-earnings ratio of 303.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The business has a 50-day moving average of $102.24 and a two-hundred day moving average of $93.16. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s payout ratio is currently 854.05%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 302,785 shares of company stock valued at $30,503,250 in the last three months. Corporate insiders own 0.16% of the company’s stock.

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.