Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Lowered by Concentrum Wealth Management

Concentrum Wealth Management lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 22.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,096 shares of the biopharmaceutical company’s stock after selling 3,585 shares during the quarter. Concentrum Wealth Management’s holdings in Gilead Sciences were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Gilead Sciences in the fourth quarter valued at about $1,789,254,000. FMR LLC grew its position in shares of Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after buying an additional 7,157,113 shares during the period. Pacer Advisors Inc. increased its stake in Gilead Sciences by 723.3% in the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after purchasing an additional 5,653,075 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth $207,340,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Gilead Sciences by 148.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,817,880 shares of the biopharmaceutical company’s stock valued at $167,209,000 after purchasing an additional 1,085,987 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 over the last ninety days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 4.6 %

Gilead Sciences stock opened at $107.25 on Monday. The firm has a market cap of $133.54 billion, a PE ratio of 289.86, a P/E/G ratio of 0.71 and a beta of 0.32. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The stock’s 50 day simple moving average is $107.30 and its two-hundred day simple moving average is $95.98. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.79 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.95%. Gilead Sciences’s payout ratio is presently 854.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GILD. BMO Capital Markets lifted their target price on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Oppenheimer lifted their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.12.

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.