Wealthfront Advisers LLC Lowers Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wealthfront Advisers LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 62.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,011 shares of the biopharmaceutical company’s stock after selling 86,959 shares during the period. Wealthfront Advisers LLC’s holdings in Gilead Sciences were worth $4,804,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GILD. HHM Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new position in Gilead Sciences in the 4th quarter worth approximately $28,000. Decker Retirement Planning Inc. purchased a new position in Gilead Sciences in the 4th quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences in the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC lifted its holdings in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 260 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $113.99 on Thursday. The stock’s fifty day moving average is $100.99 and its two-hundred day moving average is $92.33. The company has a market capitalization of $141.96 billion, a PE ratio of 308.08, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping 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%. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently announced 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 dividend yield of 2.77%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 854.05%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GILD shares. Morgan Stanley boosted their price target on Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday. Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Wolfe Research started coverage on Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.52.

Insiders Place Their Bets

In related news, CFO Andrew D. Dickinson sold 8,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the sale, the chief financial officer now directly owns 132,373 shares in the company, valued at $12,173,021.08. This represents a 6.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders sold 311,285 shares of company stock worth $31,284,910. 0.16% of the stock is currently owned by company insiders.

About Gilead Sciences

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.