Cornercap Investment Counsel Inc. Has $1.98 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Cornercap Investment Counsel Inc. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,412 shares of the biopharmaceutical company’s stock after selling 674 shares during the quarter. Gilead Sciences makes up approximately 0.6% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 14th largest holding. Cornercap Investment Counsel Inc.’s holdings in Gilead Sciences were worth $1,978,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC increased its position in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares during the period. YANKCOM Partnership acquired a new position in Gilead Sciences during the 4th quarter valued at about $28,000. Decker Retirement Planning Inc. bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Crews Bank & Trust acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC raised its position in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 260 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 over the last quarter. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.6 %

Shares of NASDAQ:GILD opened at $111.79 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $119.96. The company has a market capitalization of $139.22 billion, a P/E ratio of 302.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a 50-day simple moving average of $105.48 and a 200 day simple moving average of $94.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.79 per share. The ex-dividend date was Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.83%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Wells Fargo & Company upped their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Oppenheimer lifted their target price on Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Piper Sandler increased their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.12.

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.