Alpha Cubed Investments LLC Sells 20,747 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Alpha Cubed Investments LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 77.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,984 shares of the biopharmaceutical company’s stock after selling 20,747 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Gilead Sciences were worth $502,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. grew its stake in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Palisade Asset Management LLC purchased a new position in Gilead Sciences during the 1st quarter valued at about $29,000. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the second quarter worth about $33,000. Finally, Financial Connections Group Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $34,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.94.

Gilead Sciences Stock Up 0.9 %

NASDAQ:GILD opened at $85.21 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $106.16 billion, a price-to-earnings ratio of 236.69, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The stock’s fifty day moving average is $79.20 and its two-hundred day moving average is $71.98.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.61%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

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.