Miracle Mile Advisors LLC trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,926 shares of the biopharmaceutical company’s stock after selling 1,790 shares during the period. Miracle Mile Advisors LLC’s holdings in Gilead Sciences were worth $595,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Affiance Financial LLC purchased a new position in Gilead Sciences during the fourth quarter valued at $121,000. Western Financial Corp CA bought a new position in Gilead Sciences during the fourth quarter valued at $336,000. S.C. Financial Services Inc. bought a new position in Gilead Sciences during the fourth quarter valued at $273,000. Stratos Wealth Advisors LLC bought a new position in Gilead Sciences during the fourth quarter valued at $273,000. Finally, Octavia Wealth Advisors LLC lifted its position in Gilead Sciences by 4.7% during the fourth quarter. Octavia Wealth Advisors LLC now owns 3,715 shares of the biopharmaceutical company’s stock valued at $319,000 after purchasing an additional 168 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GILD has been the subject of several analyst reports. Barclays raised their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Bank of America restated a “neutral” rating and issued a $85.00 target price on shares of Gilead Sciences in a report on Tuesday, December 13th. Royal Bank of Canada decreased their price objective on shares of Gilead Sciences from $87.00 to $86.00 and set a “sector perform” rating for the company in a report on Monday, March 6th. Mizuho lifted their price objective on shares of Gilead Sciences from $88.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Finally, Cowen lifted their price objective on shares of Gilead Sciences from $90.00 to $95.00 in a report on Friday, February 10th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.
Gilead Sciences Stock Performance
Gilead Sciences (NASDAQ:GILD – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.50 by $0.17. Gilead Sciences had a net margin of 16.83% and a return on equity of 44.46%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences, Inc. will post 6.86 earnings per share for the current year.
Gilead Sciences Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Wednesday, March 15th were paid a $0.75 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, March 14th. Gilead Sciences’s payout ratio is currently 82.19%.
Insider Activity at Gilead Sciences
In related news, insider Merdad Parsey sold 12,984 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $79.96, for a total value of $1,038,200.64. Following the completion of the sale, the insider now owns 70,130 shares of the company’s stock, valued at approximately $5,607,594.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.
About Gilead Sciences
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.
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