SeaCrest Wealth Management LLC Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

SeaCrest Wealth Management LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,450 shares of the biopharmaceutical company’s stock after selling 682 shares during the period. SeaCrest Wealth Management LLC’s holdings in Gilead Sciences were worth $692,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Etesian Wealth Advisors Inc. lifted its stake in Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock worth $1,486,000 after purchasing an additional 128 shares during the last quarter. Financial Counselors Inc. increased its holdings in Gilead Sciences by 1.5% during the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 128 shares during the period. Revolve Wealth Partners LLC boosted its stake in Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after acquiring an additional 130 shares in the last quarter. Steph & Co. boosted its stake in Gilead Sciences by 1.9% in the fourth quarter. Steph & Co. now owns 7,548 shares of the biopharmaceutical company’s stock valued at $611,000 after acquiring an additional 142 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in Gilead Sciences by 3.5% in the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after acquiring an additional 147 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research note on Wednesday, April 24th. UBS Group lowered their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Finally, TD Cowen cut their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $66.59 on Thursday. The stock’s 50-day moving average is $66.04 and its two-hundred day moving average is $72.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a market cap of $82.96 billion, a price-to-earnings ratio of 184.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share 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 company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the business earned $1.37 EPS. Gilead Sciences’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $0.77 per share. The ex-dividend date was Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.63%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

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.