Symphony Financial Ltd. Co. Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Symphony Financial Ltd. Co. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,423 shares of the biopharmaceutical company’s stock after selling 491 shares during the period. Symphony Financial Ltd. Co.’s holdings in Gilead Sciences were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of 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 last quarter. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter valued at about $29,000. Cedar Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the 2nd quarter valued at approximately $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GILD has been the subject of several analyst reports. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets upped their price target on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Ten 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, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price of $86.85.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated 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 in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 2.2 %

Shares of GILD opened at $88.16 on Wednesday. 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 firm has a market capitalization of $109.83 billion, a P/E ratio of 244.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The stock’s fifty day simple moving average is $81.61 and its 200 day simple moving average is $73.07. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $88.36.

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

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.49%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Gilead Sciences 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.