Envestnet Asset Management Inc. Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Envestnet Asset Management Inc. trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,145,658 shares of the biopharmaceutical company's stock after selling 382,884 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Gilead Sciences worth $198,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $39,908,000. First Western Trust Bank increased its position in Gilead Sciences by 1.8% during the 4th quarter. First Western Trust Bank now owns 56,093 shares of the biopharmaceutical company's stock worth $5,181,000 after buying an additional 993 shares during the period. Wescott Financial Advisory Group LLC lifted its holdings in shares of Gilead Sciences by 5.4% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,553 shares of the biopharmaceutical company's stock worth $328,000 after buying an additional 182 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 216 shares in the last quarter. Finally, Pitcairn Co. increased its position in Gilead Sciences by 4.0% during the fourth quarter. Pitcairn Co. now owns 6,845 shares of the biopharmaceutical company's stock worth $632,000 after acquiring an additional 265 shares during the period. 83.67% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the sale, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 over the last quarter. Insiders own 0.16% of the company's stock.

Gilead Sciences Trading Down 4.1 %

GILD stock traded down $4.31 during mid-day trading on Thursday, reaching $100.95. The company's stock had a trading volume of 6,141,278 shares, compared to its average volume of 8,928,658. The company has a market cap of $125.69 billion, a price-to-earnings ratio of 272.82, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. The business's 50 day moving average price is $108.17 and its 200 day moving average price is $96.52. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly 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%. On average, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 3.13%. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is 854.05%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GILD. Wells Fargo & Company raised their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Oppenheimer upped their target price on Gilead Sciences from $115.00 to $132.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Morgan Stanley raised their price target on Gilead Sciences from $123.00 to $130.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Piper Sandler raised their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

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.