Synovus Financial Corp Has $1.60 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Synovus Financial Corp lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 53.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,334 shares of the biopharmaceutical company's stock after selling 19,931 shares during the period. Synovus Financial Corp's holdings in Gilead Sciences were worth $1,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GILD. HHM Wealth Advisors LLC boosted its holdings in Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 154 shares during the period. YANKCOM Partnership bought a new stake in shares of Gilead Sciences during the 4th quarter valued at $28,000. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences during the 4th quarter valued at about $31,000. Finally, Stephens Consulting LLC increased its position in shares of Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 260 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.4 %

Gilead Sciences stock traded down $0.39 during midday trading on Friday, reaching $104.49. The stock had a trading volume of 8,066,368 shares, compared to its average volume of 7,515,503. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The stock has a market capitalization of $130.10 billion, a PE ratio of 282.40, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32. The stock's 50-day simple moving average is $108.99 and its 200 day simple moving average is $97.30.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.79 per share. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, March 14th. Gilead Sciences's payout ratio is currently 854.05%.

Analyst Ratings Changes

GILD has been the subject of a number of research analyst reports. Bank of America lifted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler upped their price objective on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at approximately $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 302,785 shares of company stock worth $30,540,875 in the last 90 days. Corporate insiders own 0.27% 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.