Wedmont Private Capital Sells 2,008 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Wedmont Private Capital cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,468 shares of the biopharmaceutical company’s stock after selling 2,008 shares during the period. Wedmont Private Capital’s holdings in Gilead Sciences were worth $662,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Capital World Investors increased its holdings in shares of Gilead Sciences by 2.0% in the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock worth $6,753,350,000 after buying an additional 1,642,736 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Gilead Sciences by 3.0% during the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after purchasing an additional 1,743,418 shares during the period. Wellington Management Group LLP boosted its stake in shares of Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Morgan Stanley boosted its stake in shares of Gilead Sciences by 0.9% during the 3rd quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after purchasing an additional 158,794 shares during the period. Finally, Norges Bank purchased a new position in shares of Gilead Sciences during the 4th quarter worth about $1,301,624,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Performance

Gilead Sciences stock traded up $1.47 during mid-day trading on Friday, reaching $69.96. 11,657,639 shares of the company traded hands, compared to its average volume of 7,450,320. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a market capitalization of $87.16 billion, a price-to-earnings ratio of 199.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.20. The firm’s fifty day moving average is $65.68 and its two-hundred day moving average is $73.03.

Gilead Sciences (NASDAQ:GILDGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, equities research analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.40%. Gilead Sciences’s payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GILD. Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 price objective on shares of Gilead Sciences in a research report on Friday, June 14th. Wells Fargo & Company lowered their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Mizuho lowered their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, TD Cowen lowered their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Hold” and an average target price of $83.47.

Get Our Latest Stock Analysis on Gilead Sciences

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

About Gilead Sciences

(Free Report)

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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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