Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,586 shares of the biopharmaceutical company’s stock after selling 750 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Gilead Sciences were worth $672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences during the third quarter valued at $26,000. Tompkins Financial Corp lifted its stake in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $29,000. Rakuten Securities Inc. bought a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $40,000. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company dropped their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada lowered their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 14th. Finally, Barclays cut their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.71.

Gilead Sciences Price Performance

Shares of GILD traded up $0.27 during mid-day trading on Tuesday, hitting $67.22. 2,133,691 shares of the stock were exchanged, compared to its average volume of 7,261,793. Gilead Sciences, Inc. has a 52-week low of $65.90 and a 52-week high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a 50-day moving average of $71.81 and a two-hundred day moving average of $76.51. The company has a market cap of $83.69 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. On average, equities analysts predict that Gilead Sciences, Inc. will post 6.55 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.58%. Gilead Sciences’s payout ratio is currently 68.44%.

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.