GC Wealth Management RIA LLC Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

GC Wealth Management RIA LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,168 shares of the biopharmaceutical company’s stock after selling 225 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Gilead Sciences were worth $200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after acquiring an additional 841,776 shares during the period. Wellington Management Group LLP raised its stake in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. FMR LLC raised its stake in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the period. Geode Capital Management LLC raised its stake in Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after acquiring an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Gilead Sciences by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock worth $739,217,000 after acquiring an additional 249,804 shares during the period. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Piper Sandler lifted their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group boosted their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $104.52.

Gilead Sciences Stock Down 0.4 %

Shares of GILD opened at $113.99 on Thursday. The firm has a market capitalization of $141.96 billion, a P/E ratio of 308.08, a P/E/G ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96. 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 firm has a fifty day moving average price of $100.99 and a 200-day moving average price of $92.33.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating 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%. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 311,285 shares of company stock worth $31,284,910 over the last three months. 0.16% of the stock is 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.