Legacy Wealth Asset Management LLC Decreases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Legacy Wealth Asset Management LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,561 shares of the biopharmaceutical company’s stock after selling 190 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Gilead Sciences were worth $847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Gilead Sciences in the 4th quarter worth $1,789,254,000. FMR LLC raised its stake in Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the last quarter. GAMMA Investing LLC raised its stake in Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock worth $285,761,000 after acquiring an additional 2,532,070 shares during the last quarter. Northern Trust Corp raised its stake in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Gilead Sciences in the 4th quarter worth $207,340,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Wells Fargo & Company increased their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Finally, BMO Capital Markets increased their price target on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.55.

Gilead Sciences Trading Down 0.7%

GILD opened at $110.35 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company’s 50 day simple moving average is $105.49 and its two-hundred day simple moving average is $100.83. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year high of $119.96. The firm has a market capitalization of $137.27 billion, a price-to-earnings ratio of 298.24, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company posted ($1.32) EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 17,929 shares of Gilead Sciences stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the sale, the chief financial officer now owns 169,061 shares of the company’s stock, valued at approximately $19,977,938.37. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the sale, the insider now directly owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,929 shares of company stock valued at $5,644,780 in the last ninety days. 0.27% of the stock is currently owned by corporate 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.