AdvisorNet Financial Inc Sells 16,701 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

AdvisorNet Financial Inc cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 30.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,034 shares of the biopharmaceutical company’s stock after selling 16,701 shares during the quarter. AdvisorNet Financial Inc’s holdings in Gilead Sciences were worth $2,786,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Altfest L J & Co. Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $210,000. Federated Hermes Inc. increased its holdings in Gilead Sciences by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after acquiring an additional 175,925 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Gilead Sciences by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after purchasing an additional 87,482 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Gilead Sciences during the fourth quarter worth about $74,000. Finally, Eagle Asset Management Inc. raised its position in shares of Gilead Sciences by 23.6% in the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after purchasing an additional 60,697 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Up 0.7 %

Shares of GILD traded up $0.50 during mid-day trading on Monday, reaching $71.17. The company had a trading volume of 4,798,074 shares, compared to its average volume of 7,591,925. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a market capitalization of $88.67 billion, a price-to-earnings ratio of 197.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.20. The firm has a 50-day moving average price of $65.74 and a 200 day moving average price of $72.89.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction 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 sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GILD shares. Royal Bank of Canada restated a “sector perform” rating and set a $74.00 target price on shares of Gilead Sciences in a research report on Friday, June 14th. TD Cowen cut their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 26th. Wells Fargo & Company dropped their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Finally, Barclays cut their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $83.47.

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.