SouthState Corp Sells 4,098 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

SouthState Corp reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 18.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,062 shares of the biopharmaceutical company’s stock after selling 4,098 shares during the quarter. SouthState Corp’s holdings in Gilead Sciences were worth $1,463,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GILD. Aveo Capital Partners LLC increased its stake in shares of Gilead Sciences by 8.6% during the fourth quarter. Aveo Capital Partners LLC now owns 5,473 shares of the biopharmaceutical company’s stock valued at $443,000 after buying an additional 435 shares during the period. Beacon Harbor Wealth Advisors Inc. boosted its stake in shares of Gilead Sciences by 2.3% during the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 71,133 shares of the biopharmaceutical company’s stock valued at $5,762,000 after purchasing an additional 1,586 shares in the last quarter. Concentrum Wealth Management boosted its stake in shares of Gilead Sciences by 6.5% during the fourth quarter. Concentrum Wealth Management now owns 6,766 shares of the biopharmaceutical company’s stock valued at $548,000 after purchasing an additional 413 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Gilead Sciences by 53.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,437,031 shares of the biopharmaceutical company’s stock valued at $116,414,000 after buying an additional 501,105 shares during the period. Finally, Natixis Advisors L.P. raised its stake in Gilead Sciences by 15.1% in the fourth quarter. Natixis Advisors L.P. now owns 279,620 shares of the biopharmaceutical company’s stock worth $22,652,000 after buying an additional 36,711 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $0.55 during trading hours on Friday, hitting $64.78. 7,822,402 shares of the stock traded hands, compared to its average volume of 7,459,802. The firm’s 50 day moving average price is $70.72 and its 200-day moving average price is $75.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. The stock has a market capitalization of $80.66 billion, a price-to-earnings ratio of 179.94, a P/E/G ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 1 year low of $64.33 and a 1 year high of $87.86.

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

Gilead Sciences Dividend Announcement

The firm also recently announced 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 (DPR) is presently 855.56%.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. Maxim Group cut their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research note on Wednesday, April 24th. Finally, Cantor Fitzgerald cut their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.69.

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.