Allworth Financial LP Reduces Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by Defense World Staff on Mar 23rd, 2023

Gilead Sciences logo Allworth Financial LP decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,646 shares of the biopharmaceutical company’s stock after selling 324 shares during the quarter. Allworth Financial LP’s holdings in Gilead Sciences were worth $1,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC lifted its stake in Gilead Sciences by 67.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 19,598 shares of the biopharmaceutical company’s stock worth $1,682,000 after acquiring an additional 7,906 shares during the period. Greenfield Savings Bank lifted its stake in Gilead Sciences by 1.1% in the fourth quarter. Greenfield Savings Bank now owns 15,889 shares of the biopharmaceutical company’s stock worth $1,364,000 after acquiring an additional 179 shares during the period. Worth Asset Management LLC lifted its position in Gilead Sciences by 358.3% during the fourth quarter. Worth Asset Management LLC now owns 825 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 645 shares during the period. Titleist Asset Management LTD. purchased a new position in Gilead Sciences during the fourth quarter valued at $270,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Gilead Sciences by 25.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 33,878 shares of the biopharmaceutical company’s stock valued at $2,908,000 after buying an additional 6,880 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Gilead Sciences Trading Down 1.7 %

Shares of NASDAQ GILD opened at $77.81 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 1.15. The stock has a market capitalization of $97.04 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 0.92 and a beta of 0.38. Gilead Sciences, Inc. has a 1-year low of $57.17 and a 1-year high of $89.74. The business has a fifty day moving average price of $82.74 and a 200 day moving average price of $78.82.

Gilead Sciences (NASDAQ:GILD – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.17. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $6.63 billion. Gilead Sciences had a return on equity of 44.46% and a net margin of 16.83%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 6.86 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.86%. Gilead Sciences’s dividend payout ratio is currently 82.19%.

Wall Street Analyst Weigh In

Several brokerages have commented on GILD. Piper Sandler raised their price objective on Gilead Sciences from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Morgan Stanley raised their price objective on Gilead Sciences from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. StockNews.com assumed coverage on Gilead Sciences in a research report on Thursday, March 16th. They set a “strong-buy” rating for the company. Bank of America restated a “neutral” rating and set a $85.00 price target on shares of Gilead Sciences in a report on Tuesday, December 13th. Finally, Wells Fargo & Company raised their price target on Gilead Sciences from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 6,126 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $78.99, for a total value of $483,892.74. Following the sale, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,539,568.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Profile

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.