Intact Investment Management Inc. Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Intact Investment Management Inc. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 67.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,900 shares of the biopharmaceutical company’s stock after selling 93,500 shares during the period. Intact Investment Management Inc.’s holdings in Gilead Sciences were worth $4,240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GILD. HHM Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $28,000. Decker Retirement Planning Inc. purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC increased its stake in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 260 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following the transaction, the chief financial officer now owns 169,061 shares in the company, valued at $19,977,938.37. The trade was a 9.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 311,285 shares of company stock worth $31,284,910. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Down 1.7 %

Shares of GILD opened at $111.44 on Friday. The firm has a market cap of $138.78 billion, a PE ratio of 301.19, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company’s fifty day moving average is $101.82 and its two-hundred day moving average is $92.71. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results 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 net margin of 1.67% and a return on equity of 31.63%. Analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This is a positive change 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 2.84%. Gilead Sciences’s payout ratio is presently 854.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GILD shares. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Mizuho lifted their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Oppenheimer lifted their target price on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Eleven investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.52.

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.