Gilead Sciences, Inc. (NASDAQ:GILD) Stake Reduced by Portside Wealth Group LLC

Portside Wealth Group LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,261 shares of the biopharmaceutical company’s stock after selling 146 shares during the quarter. Portside Wealth Group LLC’s holdings in Gilead Sciences were worth $1,594,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GILD. nVerses Capital LLC bought a new stake in Gilead Sciences in the 3rd quarter valued at $25,000. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences in the fourth quarter valued at about $29,000. Valued Wealth Advisors LLC lifted its holdings in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the second quarter worth $33,000. Finally, Friedenthal Financial acquired a new position in Gilead Sciences during the 3rd quarter worth approximately $50,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $91.84 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $91.75 and its 200-day simple moving average is $83.97. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a market cap of $114.46 billion, a PE ratio of 1,020.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal 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 $0.77 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.35%. Gilead Sciences’s payout ratio is 3,422.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective on the stock. Daiwa America upgraded Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer raised their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their target price on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 456,234 shares of company stock worth $42,130,461. 0.29% of the stock is owned by insiders.

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.