Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Decreased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,796 shares of the biopharmaceutical company’s stock after selling 728 shares during the period. Valley Wealth Managers Inc.’s holdings in Gilead Sciences were worth $3,840,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of Gilead Sciences in the 2nd quarter valued at approximately $25,328,000. Legal & General Group Plc grew its holdings in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares during the last quarter. IRON Financial LLC acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth approximately $830,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Gilead Sciences by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after purchasing an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Gilead Sciences by 127.6% during the 1st quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock worth $15,668,000 after purchasing an additional 119,909 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GILD has been the topic of several recent analyst reports. Oppenheimer boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Piper Sandler upped their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.86.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD traded down $1.42 on Friday, hitting $90.69. The company’s stock had a trading volume of 1,113,246 shares, compared to its average volume of 7,055,857. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average of $86.49 and a two-hundred day moving average of $75.81. The firm has a market capitalization of $113.02 billion, a P/E ratio of 1,007.67, a price-to-earnings-growth ratio of 2.85 and a beta of 0.17. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Research analysts predict that Gilead Sciences, Inc. will post 4.39 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

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.