Bay Harbor Wealth Management LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 32.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,765 shares of the biopharmaceutical company’s stock after selling 850 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Gilead Sciences were worth $103,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GILD. Steel Peak Wealth Management LLC raised its holdings in Gilead Sciences by 3.9% in the 3rd quarter. Steel Peak Wealth Management LLC now owns 84,947 shares of the biopharmaceutical company’s stock valued at $5,368,000 after acquiring an additional 3,194 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in Gilead Sciences in the 3rd quarter valued at about $3,464,000. Essex Savings Bank grew its stake in shares of Gilead Sciences by 36.8% in the 3rd quarter. Essex Savings Bank now owns 5,989 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 1,612 shares during the period. Morgan Dempsey Capital Management LLC grew its stake in shares of Gilead Sciences by 5.2% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 119,392 shares of the biopharmaceutical company’s stock valued at $7,544,000 after buying an additional 5,881 shares during the period. Finally, Alberta Investment Management Corp grew its stake in shares of Gilead Sciences by 11.5% in the 3rd quarter. Alberta Investment Management Corp now owns 871,183 shares of the biopharmaceutical company’s stock valued at $55,050,000 after buying an additional 90,200 shares during the period. Institutional investors own 76.36% of the company’s stock.
In other news, EVP Brett A. Pletcher sold 1,975 shares of the firm’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $67.41, for a total value of $133,134.75. Following the sale, the executive vice president now directly owns 28,832 shares in the company, valued at approximately $1,943,565.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.
Shares of GILD traded down $0.65 during midday trading on Tuesday, reaching $63.46. The stock had a trading volume of 1,515 shares, compared to its average volume of 8,977,984. Gilead Sciences, Inc. has a 1-year low of $56.56 and a 1-year high of $85.97. The company’s fifty day simple moving average is $65.08 and its two-hundred day simple moving average is $63.01. The company has a market cap of $79.55 billion, a price-to-earnings ratio of 66.09, a PEG ratio of 0.67 and a beta of 0.51. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.25 and a quick ratio of 3.15.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, February 4th. The biopharmaceutical company reported $2.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.04. Gilead Sciences had a net margin of 5.48% and a return on equity of 37.77%. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 30th. Stockholders of record on Monday, March 15th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.48%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, March 12th. Gilead Sciences’s dividend payout ratio (DPR) is presently 44.30%.
Several research firms have recently weighed in on GILD. Truist Financial dropped their price target on shares of Gilead Sciences from $67.00 to $625.00 in a research note on Friday, December 18th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price target on shares of Gilead Sciences from $75.00 to $72.00 in a research note on Tuesday, December 22nd. Credit Suisse Group increased their price target on shares of Gilead Sciences from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, February 5th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Gilead Sciences in a research note on Tuesday, December 8th. Finally, Robert W. Baird increased their price target on shares of Gilead Sciences from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.93.
Gilead Sciences Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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