Linscomb Wealth Inc. Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Linscomb Wealth Inc. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,246 shares of the biopharmaceutical company’s stock after selling 164 shares during the period. Linscomb Wealth Inc.’s holdings in Gilead Sciences were worth $634,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new stake in Gilead Sciences in the fourth quarter worth $29,000. CarsonAllaria Wealth Management Ltd. lifted its stake in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. Sachetta LLC bought a new stake in Gilead Sciences in the fourth quarter worth $30,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences during the first quarter valued at about $29,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Gilead Sciences during the fourth quarter valued at about $36,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 0.6 %

Shares of Gilead Sciences stock opened at $80.94 on Thursday. The company has a market cap of $100.77 billion, a price-to-earnings ratio of 224.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.18. The company’s 50 day moving average is $74.82 and its 200 day moving average is $70.72. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company 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%. Research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on GILD shares. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research note on Monday. Finally, Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

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.