Axxcess Wealth Management LLC Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Axxcess Wealth Management LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,395 shares of the biopharmaceutical company’s stock after selling 504 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gilead Sciences were worth $1,166,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Altfest L J & Co. Inc. acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $210,000. Federated Hermes Inc. boosted its stake in shares of Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $74,000. Abundance Wealth Counselors acquired a new stake in shares of Gilead Sciences during the third quarter worth about $1,881,000. Finally, HTLF Bank acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $253,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.2 %

Shares of NASDAQ GILD opened at $64.90 on Monday. Gilead Sciences, Inc. has a 1 year low of $64.33 and a 1 year high of $87.86. The firm’s 50 day moving average price is $70.55 and its 200 day moving average price is $75.78. The firm has a market cap of $80.81 billion, a P/E ratio of 179.94, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.74 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.75%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Analyst Upgrades and Downgrades

GILD has been the subject of several analyst reports. Mizuho cut their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Maxim Group dropped their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Morgan Stanley dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, UBS Group dropped their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.69.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the transaction, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

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.