Portside Wealth Group LLC Has $1.59 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Portside Wealth Group LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 17,261 shares of the biopharmaceutical company’s stock after selling 146 shares during the period. Portside Wealth Group LLC’s holdings in Gilead Sciences were worth $1,594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Alliance Advisory Group LLC acquired a new stake in Gilead Sciences during the 4th quarter valued at $220,000. Moss Adams Wealth Advisors LLC lifted its stake in Gilead Sciences by 21.7% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 3,114 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 555 shares during the period. Sandbox Financial Partners LLC acquired a new position in Gilead Sciences during the fourth quarter valued at approximately $211,000. Financial Management Professionals Inc. raised its stake in Gilead Sciences by 13.9% during the 4th quarter. Financial Management Professionals Inc. now owns 7,276 shares of the biopharmaceutical company’s stock worth $672,000 after buying an additional 887 shares during the period. Finally, Jackson Square Capital LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $208,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GILD. Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wolfe Research assumed coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target on the stock. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Gilead Sciences Price Performance

Shares of GILD opened at $91.84 on Friday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company’s fifty day moving average price is $91.75 and its 200-day moving average price is $83.97. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The firm has a market capitalization of $114.46 billion, a PE ratio of 1,020.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results 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. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 earnings per share. On average, equities research analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.77 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.35%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 456,234 shares of company stock valued at $42,130,461. 0.29% of the stock is currently owned by insiders.

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.