Geneos Wealth Management Inc. Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Geneos Wealth Management Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,265 shares of the biopharmaceutical company's stock after selling 16,244 shares during the period. Geneos Wealth Management Inc.'s holdings in Gilead Sciences were worth $5,125,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harbour Trust & Investment Management Co bought a new stake in shares of Gilead Sciences during the 4th quarter worth $281,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Gilead Sciences by 9.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 118,117 shares of the biopharmaceutical company's stock worth $9,569,000 after acquiring an additional 10,285 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Gilead Sciences during the 4th quarter worth $197,000. RFG Advisory LLC lifted its stake in Gilead Sciences by 13.0% in the fourth quarter. RFG Advisory LLC now owns 19,265 shares of the biopharmaceutical company's stock worth $1,561,000 after purchasing an additional 2,219 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in Gilead Sciences by 9.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 34,997 shares of the biopharmaceutical company's stock worth $2,835,000 after purchasing an additional 2,898 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 0.7 %

Shares of NASDAQ GILD traded up $0.52 during midday trading on Tuesday, hitting $69.94. The stock had a trading volume of 5,928,046 shares, compared to its average volume of 7,410,738. The business's 50 day moving average is $73.53 and its 200-day moving average is $77.02. The company has a market cap of $87.08 billion, a P/E ratio of 15.40, a PEG ratio of 0.88 and a beta of 0.19. Gilead Sciences, Inc. has a 52 week low of $68.54 and a 52 week high of $87.86. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 EPS. As a group, analysts predict that Gilead Sciences, Inc. will post 7.07 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.77 per share. This is an increase from Gilead Sciences's previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.40%. Gilead Sciences's dividend payout ratio is 68.44%.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total transaction of $428,900.00. Following the transaction, the chief financial officer now owns 101,534 shares in the company, valued at $8,709,586.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total value of $428,900.00. Following the transaction, the chief financial officer now directly owns 101,534 shares in the company, valued at $8,709,586.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock worth $721,180 over the last quarter. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

GILD has been the subject of several recent research reports. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Wednesday, February 7th. Mizuho lowered their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 14th. Barclays decreased their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, February 12th. Finally, Oppenheimer decreased their price objective on shares of Gilead Sciences from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $85.36.

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.

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