Wealthfront Advisers LLC Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wealthfront Advisers LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 62.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,011 shares of the biopharmaceutical company's stock after selling 86,959 shares during the quarter. Wealthfront Advisers LLC's holdings in Gilead Sciences were worth $4,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its holdings 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 acquiring an additional 154 shares during the last quarter. YANKCOM Partnership bought a new stake in Gilead Sciences in the 4th quarter valued at $28,000. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Crews Bank & Trust bought a new stake in Gilead Sciences in the 4th quarter valued at $31,000. Finally, Stephens Consulting LLC boosted its stake in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 0.6 %

NASDAQ:GILD traded down $0.64 on Thursday, hitting $113.35. The stock had a trading volume of 6,936,667 shares, compared to its average volume of 8,221,427. The business's fifty day moving average is $101.42 and its 200 day moving average is $92.47. The company has a market cap of $141.16 billion, a PE ratio of 306.35, a P/E/G ratio of 0.71 and a beta of 0.21. 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, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) 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%. On average, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, March 14th. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio (DPR) is currently 854.05%.

Analysts Set New Price Targets

GILD has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Citigroup started coverage on Gilead Sciences in a report on Thursday, November 14th. They issued a "buy" rating and a $125.00 target price for the company. Bank of America upped their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.52.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 17,929 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This trade represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 311,285 shares of company stock worth $31,284,910 over the last 90 days. 0.16% 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.