Worth Asset Management LLC Has $828,000 Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Worth Asset Management LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 62.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,963 shares of the biopharmaceutical company’s stock after selling 15,111 shares during the period. Worth Asset Management LLC’s holdings in Gilead Sciences were worth $828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GILD. Range Financial Group LLC increased its position in shares of Gilead Sciences by 285.3% during the 4th quarter. Range Financial Group LLC now owns 10,626 shares of the biopharmaceutical company’s stock worth $982,000 after purchasing an additional 7,868 shares during the last quarter. First County Bank CT grew its stake in shares of Gilead Sciences by 2.9% in the fourth quarter. First County Bank CT now owns 23,760 shares of the biopharmaceutical company’s stock valued at $2,195,000 after buying an additional 680 shares in the last quarter. Spartan Planning & Wealth Management acquired a new position in Gilead Sciences during the fourth quarter worth $230,000. Diversified Trust Co raised its position in Gilead Sciences by 3.0% during the fourth quarter. Diversified Trust Co now owns 34,455 shares of the biopharmaceutical company’s stock worth $3,183,000 after acquiring an additional 1,019 shares in the last quarter. Finally, Oliver Luxxe Assets LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $4,463,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD traded down $1.06 during trading hours on Wednesday, hitting $89.57. 2,300,665 shares of the company were exchanged, compared to its average volume of 4,499,835. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a market cap of $111.63 billion, a price-to-earnings ratio of 995.22, a P/E/G ratio of 2.24 and a beta of 0.18. The firm’s fifty day moving average is $91.91 and its 200 day moving average is $82.98.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.44%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Analysts Set New Price Targets

GILD has been the topic of several recent analyst reports. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Piper Sandler boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Mizuho boosted their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Insiders Place Their Bets

In related news, CFO Andrew D. Dickinson sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the transaction, the chief financial officer now directly owns 132,373 shares in the company, valued at $12,173,021.08. This represents a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,734 shares of company stock worth $41,902,086 over the last three months. Insiders own 0.16% of the company’s stock.

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.