DORCHESTER WEALTH MANAGEMENT Co Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

DORCHESTER WEALTH MANAGEMENT Co reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,158 shares of the biopharmaceutical company’s stock after selling 200 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Gilead Sciences were worth $1,308,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GILD. AMF Tjanstepension AB increased its stake in Gilead Sciences by 14.7% in the 3rd quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock valued at $33,645,000 after purchasing an additional 51,390 shares in the last quarter. Swedbank AB increased its stake in Gilead Sciences by 10.2% in the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock valued at $171,672,000 after purchasing an additional 189,622 shares in the last quarter. Eastern Bank purchased a new position in Gilead Sciences in the 3rd quarter valued at approximately $90,000. International Assets Investment Management LLC increased its stake in Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after purchasing an additional 1,622,806 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Gilead Sciences by 73.9% in the 3rd quarter. Ballentine Partners LLC now owns 19,880 shares of the biopharmaceutical company’s stock valued at $1,667,000 after purchasing an additional 8,451 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $109.95 on Friday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $111.03. The stock has a market capitalization of $137.03 billion, a P/E ratio of 297.16, a PEG ratio of 0.71 and a beta of 0.18. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The business’s fifty day moving average price is $95.41 and its 200 day moving average price is $88.73.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.79 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.87%. Gilead Sciences’s dividend payout ratio is presently 832.43%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 713,000 shares of company stock valued at $67,945,181 over the last quarter. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

GILD has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Gilead Sciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Mizuho raised their price target on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Thursday, February 13th. Truist Financial raised their price target on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Oppenheimer raised their price target on Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

About Gilead Sciences

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.