Parallel Advisors LLC Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Parallel Advisors LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,040 shares of the biopharmaceutical company’s stock after selling 2,258 shares during the quarter. Parallel Advisors LLC’s holdings in Gilead Sciences were worth $3,421,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its stake in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership acquired a new stake in Gilead Sciences in the 4th quarter valued at approximately $28,000. Decker Retirement Planning Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC lifted its position in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD opened at $112.26 on Tuesday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The firm has a 50-day simple moving average of $102.24 and a two-hundred day simple moving average of $93.16. The stock has a market cap of $139.80 billion, a PE ratio of 303.41, a P/E/G ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. Gilead Sciences’s payout ratio is 854.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price target on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $104.52.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 over the last ninety days. 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.