Connectus Wealth LLC Lowers Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Connectus Wealth LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILDGet Rating) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the biopharmaceutical company’s stock after selling 284 shares during the period. Connectus Wealth LLC’s holdings in Gilead Sciences were worth $363,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new position in shares of Gilead Sciences during the 1st quarter valued at about $391,000. Atria Investments LLC raised its holdings in shares of Gilead Sciences by 20.9% during the 1st quarter. Atria Investments LLC now owns 90,880 shares of the biopharmaceutical company’s stock valued at $5,403,000 after buying an additional 15,694 shares in the last quarter. Congress Wealth Management LLC DE bought a new position in Gilead Sciences during the 4th quarter worth approximately $419,000. Mystic Asset Management Inc. bought a new position in Gilead Sciences during the 4th quarter worth approximately $33,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in Gilead Sciences by 1.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 30,588 shares of the biopharmaceutical company’s stock worth $2,221,000 after acquiring an additional 374 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 1.3 %

NASDAQ GILD opened at $61.09 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.49 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a twelve month low of $57.17 and a twelve month high of $74.12. The firm has a market capitalization of $76.63 billion, a PE ratio of 18.63, a P/E/G ratio of 0.64 and a beta of 0.34. The stock’s 50 day moving average is $61.55 and its 200 day moving average is $61.93.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.78%. Gilead Sciences’s dividend payout ratio is presently 89.02%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GILD. SVB Leerink began coverage on Gilead Sciences in a research report on Monday, May 23rd. They set a “market perform” rating and a $68.00 price target on the stock. TheStreet lowered Gilead Sciences from a “b-” rating to a “c+” rating in a research report on Friday, July 1st. Royal Bank of Canada raised their price target on Gilead Sciences from $76.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 12th. Piper Sandler reduced their price target on Gilead Sciences from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, May 16th. Finally, Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, July 12th. They set a “neutral” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Hold” and a consensus price target of $72.07.

About Gilead Sciences

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

See Also

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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