Wright Investors Service Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,181 shares of the biopharmaceutical company's stock after selling 15,942 shares during the quarter. Gilead Sciences accounts for about 1.4% of Wright Investors Service Inc.'s holdings, making the stock its 21st largest holding. Wright Investors Service Inc.'s holdings in Gilead Sciences were worth $4,450,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at about $471,000. First Financial Corp IN bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $68,000. Pallas Capital Advisors LLC boosted its holdings in Gilead Sciences by 4.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 8,150 shares of the biopharmaceutical company's stock valued at $753,000 after acquiring an additional 314 shares during the period. Claro Advisors LLC grew its position in Gilead Sciences by 30.6% during the 4th quarter. Claro Advisors LLC now owns 11,172 shares of the biopharmaceutical company's stock worth $1,032,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in Gilead Sciences by 41.2% in the fourth quarter. Wedmont Private Capital now owns 13,481 shares of the biopharmaceutical company's stock valued at $1,212,000 after purchasing an additional 3,931 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GILD shares. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an "outperform" rating and a $105.00 target price on the stock. Daiwa America upgraded shares of Gilead Sciences to a "hold" rating in a research report on Monday, November 18th. Mizuho increased their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. The Goldman Sachs Group raised their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.96.
Read Our Latest Stock Analysis on GILD
Gilead Sciences Stock Up 1.2 %
Shares of GILD traded up $1.06 during mid-day trading on Tuesday, reaching $91.00. The company had a trading volume of 7,416,308 shares, compared to its average volume of 6,276,988. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company has a market capitalization of $113.41 billion, a price-to-earnings ratio of 1,011.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. The firm has a 50-day moving average price of $91.94 and a 200 day moving average price of $83.54. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 4.36 EPS for the current year.
Gilead Sciences Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.38%. Gilead Sciences's dividend payout ratio is presently 3,422.22%.
Insider Activity
In related news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 8,500 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $91.96, for a total transaction of $781,660.00. Following the transaction, the chief financial officer now owns 132,373 shares in the company, valued at $12,173,021.08. This represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,734 shares of company stock worth $41,902,086 over the last 90 days. 0.16% of the stock is currently owned by insiders.
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.
Further Reading
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