Wrapmanager Inc. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wrapmanager Inc. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,368 shares of the biopharmaceutical company’s stock after selling 549 shares during the quarter. Wrapmanager Inc.’s holdings in Gilead Sciences were worth $865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Impax Asset Management Group plc boosted its holdings in shares of Gilead Sciences by 126.9% in the 4th quarter. Impax Asset Management Group plc now owns 380,570 shares of the biopharmaceutical company’s stock valued at $35,153,000 after buying an additional 212,828 shares during the period. Edge Capital Group LLC acquired a new position in Gilead Sciences during the fourth quarter worth about $212,000. Rothschild Investment LLC lifted its position in shares of Gilead Sciences by 7.3% during the 4th quarter. Rothschild Investment LLC now owns 4,463 shares of the biopharmaceutical company’s stock valued at $412,000 after acquiring an additional 303 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Gilead Sciences by 19.1% during the fourth quarter. Crestwood Advisors Group LLC now owns 14,497 shares of the biopharmaceutical company’s stock valued at $1,339,000 after acquiring an additional 2,321 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Gilead Sciences by 146.4% during the fourth quarter. IFP Advisors Inc now owns 13,330 shares of the biopharmaceutical company’s stock worth $1,231,000 after purchasing an additional 7,919 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

GILD opened at $111.03 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $111.99. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market capitalization of $138.37 billion, a PE ratio of 300.08, a price-to-earnings-growth ratio of 0.71 and a beta of 0.18. The business has a fifty day simple moving average of $95.79 and a 200 day simple moving average of $89.08.

Gilead Sciences (NASDAQ:GILD) last released its 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%. Research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.85%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is currently 854.05%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.09, for a total value of $260,225.00. Following the transaction, the chief financial officer now owns 169,061 shares in the company, valued at $17,597,559.49. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 706,212 shares of company stock valued at $67,324,826. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GILD shares. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Oppenheimer upped their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Wolfe Research began coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.08.

About Gilead Sciences

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.