Gateway Investment Advisers LLC Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Gateway Investment Advisers LLC trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,654 shares of the biopharmaceutical company’s stock after selling 7,173 shares during the period. Gateway Investment Advisers LLC’s holdings in Gilead Sciences were worth $6,434,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mirador Capital Partners LP increased its position in shares of Gilead Sciences by 4.0% during the fourth quarter. Mirador Capital Partners LP now owns 13,723 shares of the biopharmaceutical company’s stock worth $1,268,000 after purchasing an additional 528 shares in the last quarter. USA Financial Formulas purchased a new position in Gilead Sciences during the 4th quarter worth approximately $1,539,000. BluePath Capital Management LLC increased its position in Gilead Sciences by 15.2% during the fourth quarter. BluePath Capital Management LLC now owns 9,854 shares of the biopharmaceutical company’s stock worth $886,000 after buying an additional 1,299 shares during the period. Armstrong Advisory Group Inc. lifted its stake in Gilead Sciences by 14.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,606 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 200 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Gilead Sciences by 31.4% in the fourth quarter. Park Avenue Securities LLC now owns 28,753 shares of the biopharmaceutical company’s stock valued at $2,656,000 after acquiring an additional 6,878 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In other news, 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 value of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the 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 directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 456,234 shares of company stock valued at $42,130,461 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GILD. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Barclays upped their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Oppenheimer lifted their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.96.

Gilead Sciences Stock Performance

GILD opened at $91.65 on Friday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The stock has a market cap of $114.22 billion, a P/E ratio of 1,018.33, a P/E/G ratio of 1.27 and a beta of 0.18. The stock’s 50 day simple moving average is $91.97 and its 200 day simple moving average is $83.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

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.