Alpha Cubed Investments LLC Sells 1,081 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Alpha Cubed Investments LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.7% in the fourth quarter, Holdings Channel reports. The firm owned 6,793 shares of the biopharmaceutical company’s stock after selling 1,081 shares during the period. Alpha Cubed Investments LLC’s holdings in Gilead Sciences were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp boosted its position in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the period. OFI Invest Asset Management bought a new stake in Gilead Sciences during the third quarter worth approximately $26,000. Fortitude Family Office LLC bought a new stake in Gilead Sciences during the fourth quarter worth approximately $29,000. Rakuten Securities Inc. bought a new stake in Gilead Sciences during the fourth quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new stake in Gilead Sciences during the fourth quarter worth approximately $40,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Morgan Stanley cut their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. TD Cowen cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Finally, Royal Bank of Canada cut their price target on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and an average price target of $83.69.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the sale, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $65.39 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. The stock has a fifty day moving average price of $71.03 and a two-hundred day moving average price of $76.08. Gilead Sciences, Inc. has a 52-week low of $64.63 and a 52-week high of $87.86. The firm has a market capitalization of $81.42 billion, a P/E ratio of 181.11, a P/E/G ratio of 1.30 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.79 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

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.