Empire Financial Management Company LLC Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Empire Financial Management Company LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,600 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Empire Financial Management Company LLC’s holdings in Gilead Sciences were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. TT International Asset Management LTD purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $1,257,000. Coldstream Capital Management Inc. grew its position in Gilead Sciences by 9.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 22,882 shares of the biopharmaceutical company’s stock worth $1,932,000 after purchasing an additional 2,043 shares during the period. Gould Capital LLC raised its stake in Gilead Sciences by 22.2% during the 3rd quarter. Gould Capital LLC now owns 16,128 shares of the biopharmaceutical company’s stock valued at $1,352,000 after buying an additional 2,927 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after buying an additional 574,421 shares during the period. Finally, Brophy Wealth Management LLC bought a new stake in shares of Gilead Sciences in the third quarter worth $1,275,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.0 %

GILD stock opened at $92.38 on Thursday. The firm has a market cap of $115.13 billion, a PE ratio of 1,026.44, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18. The firm has a fifty day moving average price of $89.50 and a 200 day moving average price of $79.08. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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 dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Upgrades and Downgrades

GILD has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Citigroup began coverage on Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.43.

Insider Buying and Selling at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 447,234 shares of company stock worth $41,288,086 over the last quarter. Insiders own 0.29% of the company’s stock.

Gilead Sciences Company 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.