Hennion & Walsh Asset Management Inc. Sells 7,644 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Hennion & Walsh Asset Management Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 31.2% in the third quarter, Holdings Channel.com reports. The fund owned 16,870 shares of the biopharmaceutical company’s stock after selling 7,644 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Gilead Sciences were worth $1,414,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. boosted its holdings in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the third quarter worth $25,000. Palisade Asset Management LLC bought a new stake in Gilead Sciences during the first quarter valued at $29,000. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. 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. Truist Financial increased their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Stock Up 0.2 %

NASDAQ GILD opened at $89.00 on Friday. The business’s 50-day moving average is $82.46 and its 200 day moving average is $73.44. The stock has a market capitalization of $110.80 billion, a PE ratio of 108.54, a PEG ratio of 3.07 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.74.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Sell-side analysts forecast that Gilead Sciences, Inc. will post 3.76 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.46%. Gilead Sciences’s dividend payout ratio is 375.61%.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the 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 completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock valued at $3,033,340. Corporate insiders own 0.16% of the company’s stock.

About Gilead Sciences

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.