Bar Harbor Wealth Management Sells 270 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Bar Harbor Wealth Management decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 2,979 shares of the biopharmaceutical company’s stock after selling 270 shares during the quarter. Bar Harbor Wealth Management’s holdings in Gilead Sciences were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GILD. FMR LLC grew its position in shares of Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 in the last quarter. Point72 Asset Management L.P. increased its position in shares of Gilead Sciences by 350.1% during the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after buying an additional 1,793,145 shares during the period. International Assets Investment Management LLC increased its position in shares of Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after buying an additional 1,622,806 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after buying an additional 1,564,792 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.1 %

NASDAQ:GILD opened at $89.94 on Tuesday. The firm has a market capitalization of $112.09 billion, a P/E ratio of 999.33, a P/E/G ratio of 2.24 and a beta of 0.18. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $91.94 and a 200 day moving average of $83.54. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during 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 company’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, research analysts predict that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed 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 3.42%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $84.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $97.96.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction on 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 sale, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,734 shares of company stock valued at $41,902,086. Company insiders own 0.16% of the company’s stock.

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.