Linscomb Wealth Inc. Sells 1,076 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Linscomb Wealth Inc. lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,170 shares of the biopharmaceutical company’s stock after selling 1,076 shares during the period. Linscomb Wealth Inc.’s holdings in Gilead Sciences were worth $685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% during the second 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 position in shares of Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the second quarter valued at approximately $33,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 4.0 %

Shares of GILD opened at $88.40 on Friday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a market cap of $110.17 billion, a P/E ratio of 982.22, a P/E/G ratio of 2.85 and a beta of 0.17. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $86.68 and its 200-day simple moving average is $75.96.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. As a group, analysts expect that Gilead Sciences, Inc. will post 4.39 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research reports. Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. 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, Robert W. Baird upped their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.86.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 in the last 90 days. Company insiders own 0.16% of the company’s stock.

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.