CapWealth Advisors LLC Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

CapWealth Advisors LLC cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263,091 shares of the biopharmaceutical company’s stock after selling 7,374 shares during the quarter. Gilead Sciences accounts for approximately 2.6% of CapWealth Advisors LLC’s holdings, making the stock its 15th biggest holding. CapWealth Advisors LLC’s holdings in Gilead Sciences were worth $21,313,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. PCA Investment Advisory Services Inc. bought a new stake in Gilead Sciences during the 2nd quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Gilead Sciences during the 3rd quarter valued at $26,000. Tompkins Financial Corp raised its holdings in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Gilead Sciences during the 4th quarter valued at $29,000. Finally, Rakuten Securities Inc. bought a new stake in Gilead Sciences during the 4th quarter valued at $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of GILD stock traded down $0.88 on Thursday, reaching $66.05. The company’s stock had a trading volume of 2,498,725 shares, compared to its average volume of 7,253,976. The stock’s fifty day simple moving average is $72.25 and its 200-day simple moving average is $76.66. Gilead Sciences, Inc. has a 1 year low of $65.90 and a 1 year high of $87.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $82.24 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts forecast that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.66%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s payout ratio is presently 68.44%.

Analysts Set New Price Targets

A number of research firms recently commented on GILD. Royal Bank of Canada lowered their price target on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, February 14th. Mizuho decreased their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. UBS Group decreased their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Finally, Barclays decreased their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and an average target price of $84.71.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, April 1st. The shares were 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 directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.