Aviance Capital Partners LLC Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Aviance Capital Partners LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,661 shares of the biopharmaceutical company’s stock after selling 449 shares during the period. Aviance Capital Partners LLC’s holdings in Gilead Sciences were worth $1,431,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Altfest L J & Co. Inc. bought a new stake in Gilead Sciences in the fourth quarter worth $210,000. Federated Hermes Inc. grew its stake in shares of Gilead Sciences by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $74,000. Abundance Wealth Counselors purchased a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $1,881,000. Finally, HTLF Bank bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $253,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on 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 sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada decreased their price objective on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating on the stock in a research report on Friday, April 26th. Maxim Group lowered their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a report on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.69.

Gilead Sciences Stock Up 1.2 %

Shares of Gilead Sciences stock traded up $0.76 during trading on Monday, hitting $65.54. 7,186,870 shares of the stock traded hands, compared to its average volume of 7,456,667. 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 stock’s fifty day simple moving average is $70.40 and its 200 day simple moving average is $75.68. The firm has a market cap of $81.60 billion, a P/E ratio of 182.06, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 52-week low of $64.33 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

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.