Bogart Wealth LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Bogart Wealth LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 92,783 shares of the biopharmaceutical company’s stock after selling 1,523 shares during the quarter. Bogart Wealth LLC’s holdings in Gilead Sciences were worth $7,779,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. increased its holdings in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences in the third quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the first quarter worth about $29,000. Cedar Wealth Management LLC increased its stake in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth about $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 1.6 %

GILD traded up $1.37 on Thursday, hitting $88.60. The company had a trading volume of 2,758,619 shares, compared to its average volume of 7,028,406. The company’s fifty day moving average price is $81.87 and its 200 day moving average price is $73.17. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.21. 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 cap of $110.38 billion, a P/E ratio of 247.53, a PEG ratio of 2.98 and a beta of 0.18.

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

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $96.00 in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The shares were 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 owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is currently owned by corporate insiders.

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.