SVB Wealth LLC Decreases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

SVB Wealth LLC lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,315 shares of the biopharmaceutical company’s stock after selling 2,649 shares during the period. SVB Wealth LLC’s holdings in Gilead Sciences were worth $5,858,000 at the end of the most recent quarter.

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

Gilead Sciences Price Performance

Gilead Sciences stock opened at $67.31 on Wednesday. The company’s 50 day simple moving average is $72.40 and its 200-day simple moving average is $76.73. The company has a market capitalization of $83.81 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.86 and a beta of 0.19. Gilead Sciences, Inc. has a 1 year low of $67.18 and a 1 year high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Gilead Sciences’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.06 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.77 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is presently 68.44%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

GILD has been the topic of several research analyst reports. Mizuho dropped their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company dropped their target price on shares of 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 lowered their price target on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Hold” and a consensus target price of $85.36.

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.