Moors & Cabot Inc. Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Moors & Cabot Inc. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,153 shares of the biopharmaceutical company’s stock after selling 192 shares during the period. Moors & Cabot Inc.’s holdings in Gilead Sciences were worth $1,941,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC grew its position in shares of Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after acquiring an additional 108 shares during the period. Concord Asset Management LLC VA grew its position in shares of Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 111 shares during the period. TFB Advisors LLC grew its position in shares of Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 116 shares during the period. Sumitomo Life Insurance Co. grew its position in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 117 shares during the period. Finally, FDx Advisors Inc. grew its position in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 117 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 1.0 %

Shares of NASDAQ:GILD opened at $88.63 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a 50-day moving average price of $87.15 and a 200 day moving average price of $76.52. The company has a market cap of $110.46 billion, a price-to-earnings ratio of 984.78, a PEG ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock valued at $4,968,674 over the last 90 days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Finally, Robert W. Baird upped their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued 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 $94.00.

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.