Kingswood Wealth Advisors LLC Reduces Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Kingswood Wealth Advisors LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 34.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,591 shares of the biopharmaceutical company’s stock after selling 7,735 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Gilead Sciences were worth $1,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences during the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its stake in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences in the fourth quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the second quarter worth about $33,000. Finally, Quarry LP acquired a new stake in shares of Gilead Sciences during the second quarter worth about $43,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares in the company, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 456,234 shares of company stock valued at $42,130,461 over the last quarter. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research analyst reports. Mizuho upped their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Oppenheimer upped their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $97.96.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $95.35 on Tuesday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a market capitalization of $118.83 billion, a P/E ratio of 1,059.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $91.74 and a two-hundred day moving average price of $85.09.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period last year, the company posted $2.29 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.77 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.23%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.