Concentrum Wealth Management cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,096 shares of the biopharmaceutical company's stock after selling 3,585 shares during the period. Concentrum Wealth Management's holdings in Gilead Sciences were worth $1,117,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in Gilead Sciences by 21.6% in the fourth 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 in the last quarter. Wellington Management Group LLP lifted its stake in shares of Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Gilead Sciences by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after purchasing an additional 749,047 shares during the period. Norges Bank bought a new position in shares of Gilead Sciences during the 4th quarter valued at approximately $1,789,254,000. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 valued at $739,217,000 after buying an additional 249,804 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.
Insider Activity
In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Wednesday, January 15th. The stock was 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 of the company's stock, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 302,785 shares of company stock valued at $30,503,250 over the last ninety days. 0.16% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. DZ Bank raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. Piper Sandler boosted their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $105.12.
Read Our Latest Research Report on GILD
Gilead Sciences Stock Down 2.9 %
Shares of GILD traded down $3.05 during midday trading on Thursday, hitting $102.20. 7,458,154 shares of the company's stock traded hands, compared to its average volume of 7,461,033. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The firm's fifty day moving average is $108.17 and its 200-day moving average 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. The stock has a market capitalization of $127.26 billion, a price-to-earnings ratio of 274.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.
Gilead Sciences Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.79 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio (DPR) is currently 854.05%.
Gilead Sciences Company Profile
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Free Report)
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.
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