Beech Hill Advisors Inc. Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Beech Hill Advisors Inc. reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,243 shares of the biopharmaceutical company’s stock after selling 345 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Gilead Sciences were worth $1,316,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GILD. WINTON GROUP Ltd increased its position in shares of Gilead Sciences by 52.9% in the 2nd quarter. WINTON GROUP Ltd now owns 8,800 shares of the biopharmaceutical company’s stock valued at $604,000 after acquiring an additional 3,043 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Gilead Sciences by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 85,804 shares of the biopharmaceutical company’s stock valued at $5,887,000 after purchasing an additional 522 shares during the period. One Capital Management LLC raised its stake in shares of Gilead Sciences by 36.8% in the second quarter. One Capital Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock worth $398,000 after purchasing an additional 1,560 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Gilead Sciences by 36.1% during the second quarter. Citizens Financial Group Inc. RI now owns 5,984 shares of the biopharmaceutical company’s stock worth $411,000 after purchasing an additional 1,588 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in Gilead Sciences by 10.2% in the second quarter. Axxcess Wealth Management LLC now owns 19,746 shares of the biopharmaceutical company’s stock valued at $1,355,000 after buying an additional 1,830 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the transaction, the chief financial officer now directly owns 132,373 shares in the company, valued at $12,173,021.08. This trade represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,734 shares of company stock worth $41,902,086 over the last three months. Insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $0.12 during midday trading on Thursday, reaching $92.26. The company had a trading volume of 177,283 shares, compared to its average volume of 5,836,420. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a market capitalization of $114.98 billion, a P/E ratio of 1,025.11, a P/E/G ratio of 1.27 and a beta of 0.18. The firm’s fifty day simple moving average is $91.96 and its 200-day simple moving average is $83.69.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of recent research reports. Truist Financial raised their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $74.00 to $96.00 in a report on Monday, October 21st. Finally, Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

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.