Valley Wealth Managers Inc. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Valley Wealth Managers Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,482 shares of the biopharmaceutical company’s stock after selling 5,314 shares during the period. Valley Wealth Managers Inc.’s holdings in Gilead Sciences were worth $3,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the 3rd quarter worth approximately $25,000. HHM Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 154 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. YANKCOM Partnership purchased a new stake in Gilead Sciences during the 4th quarter valued at $28,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wolfe Research assumed coverage on Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. Citigroup assumed coverage on Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a research note on Tuesday, December 10th. UBS Group increased their price target on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Truist Financial increased their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $101.33.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the company’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 transaction, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 710,500 shares of company stock valued at $67,684,956 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

GILD stock opened at $104.08 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market cap of $129.71 billion, a P/E ratio of 1,156.44, a P/E/G ratio of 1.25 and a beta of 0.18. The firm has a 50 day simple moving average of $93.87 and a 200 day simple moving average of $87.70. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $106.69.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is 3,422.22%.

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.