Quadrant Private Wealth Management LLC Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Quadrant Private Wealth Management LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,256 shares of the biopharmaceutical company’s stock after selling 385 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Gilead Sciences were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP lifted its stake in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the last quarter. Pacer Advisors Inc. lifted 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 worth $594,370,000 after purchasing an additional 5,653,075 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Gilead Sciences by 350.1% in the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after purchasing an additional 1,793,145 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Gilead Sciences by 8,238.4% in the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after purchasing an additional 1,622,806 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 1.8 %

NASDAQ GILD opened at $104.08 on Friday. The company has a market capitalization of $129.71 billion, a price-to-earnings ratio of 1,156.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The firm’s fifty day moving average price is $93.63 and its 200 day moving average price is $87.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $106.69.

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, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced 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. This represents a $3.16 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 137,676 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $102.22, for a total value of $14,073,240.72. Following the completion of the sale, the chief financial officer now owns 171,223 shares in the company, valued at $17,502,415.06. This trade represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 710,500 shares of company stock worth $67,684,956. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.33.

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.