OneAscent Wealth Management LLC Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

OneAscent Wealth Management LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,237 shares of the biopharmaceutical company’s stock after selling 189 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Gilead Sciences were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its position in Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after purchasing an additional 841,776 shares during the period. Wellington Management Group LLP raised its stake in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after buying an additional 574,421 shares during the period. Norges Bank purchased a new position in shares of Gilead Sciences in the 4th quarter worth $1,789,254,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Gilead Sciences by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock worth $739,217,000 after acquiring an additional 249,804 shares during the period. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $111.79 on Friday. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 302.14, a PEG ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The stock’s 50 day simple moving average is $105.48 and its two-hundred day simple moving average is $94.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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 1.67% and a return on equity of 31.63%. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal 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 paid a dividend of $0.79 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 302,785 shares of company stock worth $30,503,250 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GILD. BMO Capital Markets raised their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley upped their price objective on Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.