Adell Harriman & Carpenter Inc. Sells 1,300 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Adell Harriman & Carpenter Inc. decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,993 shares of the biopharmaceutical company’s stock after selling 1,300 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Gilead Sciences were worth $485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tompkins Financial Corp raised its holdings in Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the period. OFI Invest Asset Management purchased a new position in Gilead Sciences during the third quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Rakuten Securities Inc. purchased a new stake in Gilead Sciences in the 4th quarter worth $33,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GILD. Wells Fargo & Company dropped their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Morgan Stanley reduced their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Friday. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Finally, Cantor Fitzgerald dropped their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.60.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded down $0.99 during trading on Tuesday, hitting $64.95. 829,793 shares of the company were exchanged, compared to its average volume of 7,400,155. The stock has a market capitalization of $80.87 billion, a price-to-earnings ratio of 183.17, a P/E/G ratio of 1.29 and a beta of 0.19. Gilead Sciences, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average price of $71.16 and a 200 day moving average price of $76.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the previous year, the business earned $1.37 EPS. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Gilead Sciences, Inc. will post 3.82 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.74%. Gilead Sciences’s payout ratio is presently 855.56%.

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.