Miracle Mile Advisors LLC Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Miracle Mile Advisors LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,489 shares of the biopharmaceutical company’s stock after selling 356 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Gilead Sciences were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GILD. Institute for Wealth Management LLC. boosted its stake in Gilead Sciences by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 142 shares during the period. First Affirmative Financial Network grew its stake in Gilead Sciences by 3.5% during 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. Insigneo Advisory Services LLC grew its stake in Gilead Sciences by 1.7% during the second quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock valued at $661,000 after acquiring an additional 148 shares in the last quarter. MCF Advisors LLC increased its holdings in Gilead Sciences by 2.1% during the 1st quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after acquiring an additional 152 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in Gilead Sciences by 0.6% in the 2nd quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock worth $1,826,000 after purchasing an additional 152 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market cap of $106.16 billion, a PE ratio of 236.69, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The business has a 50 day moving average price of $79.20 and a 200-day moving average price of $71.98.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $100.00 in a report on Monday. Royal Bank of Canada raised their price target on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.94.

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.