Parallel Advisors LLC Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Parallel Advisors LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,040 shares of the biopharmaceutical company’s stock after selling 2,258 shares during the period. Parallel Advisors LLC’s holdings in Gilead Sciences were worth $3,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at about $28,000. Decker Retirement Planning Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $29,000. Crews Bank & Trust purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $31,000. Finally, Stephens Consulting LLC lifted its stake in shares of Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.7 %

Shares of NASDAQ:GILD opened at $112.26 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a fifty 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. The firm has a market capitalization of $139.80 billion, a P/E ratio of 303.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

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

Gilead Sciences Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Oppenheimer upped their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.52.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the transaction, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at approximately $19,977,938.37. The trade was a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 302,785 shares of company stock worth $30,503,250 over the last ninety days. 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.