Envestnet Asset Management Inc. Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Envestnet Asset Management Inc. cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,145,658 shares of the biopharmaceutical company’s stock after selling 382,884 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Gilead Sciences worth $198,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. McAdam LLC lifted its position in shares of Gilead Sciences by 16.7% in the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock valued at $2,344,000 after acquiring an additional 3,627 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after purchasing an additional 9,791 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Gilead Sciences by 3.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company’s stock valued at $13,132,000 after buying an additional 5,382 shares in the last quarter. Global Financial Private Client LLC raised its position in shares of Gilead Sciences by 1,222.0% during the fourth quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company’s stock valued at $561,000 after buying an additional 5,609 shares during the last quarter. Finally, Exome Asset Management LLC purchased a new position in shares of Gilead Sciences in the third quarter worth $4,192,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Performance

GILD stock opened at $107.25 on Monday. The firm has a 50-day simple moving average of $107.30 and a two-hundred day simple moving average of $95.98. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The firm has a market cap of $133.54 billion, a price-to-earnings ratio of 289.86, a PEG ratio of 0.71 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last released 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 net margin of 1.67% and a return on equity of 31.63%. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.79 per share. The ex-dividend date was Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.95%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is 854.05%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 17,929 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the sale, the chief financial officer now owns 169,061 shares in the company, valued at $19,977,938.37. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 302,785 shares of company stock worth $30,503,250 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Oppenheimer lifted their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Wells Fargo & Company increased their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences 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 for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $105.12.

Gilead Sciences 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.