Gateway Wealth Partners LLC Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Gateway Wealth Partners LLC reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,078 shares of the biopharmaceutical company’s stock after selling 381 shares during the period. Gateway Wealth Partners LLC’s holdings in Gilead Sciences were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Institute for Wealth Management LLC. increased its stake in shares of Gilead Sciences by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 142 shares in the last quarter. First Affirmative Financial Network increased its stake in shares of Gilead Sciences by 3.5% in the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Gilead Sciences by 1.7% in the second quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 148 shares in the last quarter. Rathbones Group PLC increased its stake in shares of Gilead Sciences by 3.7% in the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock worth $339,000 after purchasing an additional 150 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in shares of Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 152 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GILD. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Monday, September 16th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Finally, BMO Capital Markets upped their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.3 %

Shares of GILD opened at $83.84 on Tuesday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a market cap of $104.45 billion, a P/E ratio of 232.89, a P/E/G ratio of 2.91 and a beta of 0.18. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $78.28 and its 200-day simple moving average is $71.60.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. As a group, analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 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.