Axxcess Wealth Management LLC Sells 998 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Axxcess Wealth Management LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,300 shares of the biopharmaceutical company’s stock after selling 998 shares during the period. Axxcess Wealth Management LLC’s holdings in Gilead Sciences were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Argent Advisors Inc. lifted its stake in shares of Gilead Sciences by 1.3% during the 4th quarter. Argent Advisors Inc. now owns 11,345 shares of the biopharmaceutical company’s stock worth $1,048,000 after acquiring an additional 142 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Gilead Sciences by 10.0% during the fourth quarter. TCTC Holdings LLC now owns 2,764 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 251 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Gilead Sciences by 5.1% during the fourth quarter. Signaturefd LLC now owns 22,062 shares of the biopharmaceutical company’s stock valued at $2,038,000 after purchasing an additional 1,062 shares during the period. Cibc World Markets Corp grew its holdings in shares of Gilead Sciences by 236.8% in the fourth quarter. Cibc World Markets Corp now owns 661,209 shares of the biopharmaceutical company’s stock worth $61,076,000 after purchasing an additional 464,874 shares during the last quarter. Finally, GLOBALT Investments LLC GA increased its stake in Gilead Sciences by 20.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 48,659 shares of the biopharmaceutical company’s stock worth $4,495,000 after buying an additional 8,204 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on GILD shares. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. UBS Group upped their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Morgan Stanley raised their price target on Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets upped their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.52.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $105.87 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The company has a market cap of $131.84 billion, a PE ratio of 286.14, 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 quick ratio of 1.20 and a current ratio of 1.50. The business has a 50-day simple moving average of $103.33 and a two-hundred day simple moving average of $93.56.

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

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.98%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 302,785 shares of company stock worth $30,503,250. 0.29% of the stock is currently 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.