Fortem Financial Group LLC Sells 2,689 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Fortem Financial Group LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 30.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,263 shares of the biopharmaceutical company’s stock after selling 2,689 shares during the period. Fortem Financial Group LLC’s holdings in Gilead Sciences were worth $525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares during the period. Concord Asset Management LLC VA increased its position in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares in the last quarter. TFB Advisors LLC raised its stake in shares of Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares during the period. Sumitomo Life Insurance Co. lifted its position in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in Gilead Sciences by 2.2% in the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the 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 completion of the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 27.31 % 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, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 476,591 shares of company stock worth $43,747,615 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $92.34 on Wednesday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market capitalization of $115.08 billion, a P/E ratio of 1,026.00, a PEG ratio of 2.86 and a beta of 0.18. The stock has a 50-day simple moving average of $89.33 and a two-hundred day simple moving average of $78.89.

Gilead Sciences (NASDAQ:GILD) last posted 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. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the firm earned $2.29 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GILD shares. Daiwa America raised Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Mizuho boosted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Truist Financial upped their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $96.43.

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.