Opes Wealth Management LLC Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Opes Wealth Management LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,976 shares of the biopharmaceutical company’s stock after selling 277 shares during the quarter. Gilead Sciences comprises about 3.1% of Opes Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. Opes Wealth Management LLC’s holdings in Gilead Sciences were worth $12,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Gilead Sciences during the 3rd quarter worth approximately $26,000. Tompkins Financial Corp increased its holdings in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the sale, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded down $0.77 during trading hours on Thursday, hitting $66.16. 6,440,752 shares of the stock were exchanged, compared to its average volume of 7,307,979. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The company has a market cap of $82.37 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19. The company’s fifty day simple moving average is $72.25 and its two-hundred 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.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 6.55 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.77 per share. 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. This represents a $3.08 annualized dividend and a dividend yield of 4.66%. Gilead Sciences’s dividend payout ratio (DPR) is currently 68.44%.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. UBS Group decreased their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Oppenheimer decreased their price objective on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Finally, Cantor Fitzgerald lowered their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.71.

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.