Avior Wealth Management LLC Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Avior Wealth Management LLC lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 8,529 shares of the biopharmaceutical company’s stock after selling 580 shares during the quarter. Avior Wealth Management LLC’s holdings in Gilead Sciences were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GILD. PCA Investment Advisory Services Inc. acquired a new stake in Gilead Sciences during the second quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $26,000. Tompkins Financial Corp increased its stake in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Gilead Sciences during the fourth quarter worth approximately $29,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $66.93 on Thursday. The company has a market capitalization of $83.33 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.92 and a beta of 0.19. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. Gilead Sciences, Inc. has a 52 week low of $66.89 and a 52 week high of $87.86. The stock’s fifty day moving average is $72.25 and its two-hundred day moving average is $76.66.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 6.55 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.60%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is 68.44%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GILD. Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Royal Bank of Canada cut their price objective on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Finally, Oppenheimer reduced their target price on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Hold” and a consensus price target of $85.36.

Gilead Sciences 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.