Trueblood Wealth Management LLC Takes $388,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Trueblood Wealth Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, HoldingsChannel reports. The firm acquired 4,786 shares of the biopharmaceutical company’s stock, valued at approximately $388,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Gilead Sciences by 2.6% during the 2nd quarter. State Street Corp now owns 59,317,162 shares of the biopharmaceutical company’s stock worth $4,571,574,000 after purchasing an additional 1,514,894 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after purchasing an additional 13,764,169 shares during the period. Morgan Stanley increased its position in Gilead Sciences by 11.5% during the 4th quarter. Morgan Stanley now owns 17,196,950 shares of the biopharmaceutical company’s stock worth $1,476,358,000 after purchasing an additional 1,780,489 shares during the period. Renaissance Technologies LLC increased its position in Gilead Sciences by 70.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after purchasing an additional 6,410,047 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Gilead Sciences by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock worth $951,350,000 after purchasing an additional 1,987,058 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the transaction, the chief financial officer now owns 101,534 shares in the company, valued at $8,709,586.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the transaction, the chief financial officer now owns 101,534 shares in the company, valued at $8,709,586.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now directly owns 100,936 shares in the company, valued at $7,386,496.48. The disclosure for this sale can be found here. Insiders have sold a total of 15,242 shares of company stock worth $1,277,726 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on GILD shares. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Oppenheimer lowered their price target on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Barclays lowered their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Mizuho lowered their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald lowered their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences has a consensus rating of “Hold” and an average price target of $85.36.

Gilead Sciences Trading Up 0.3 %

Shares of GILD traded up $0.24 during trading hours on Thursday, hitting $73.25. The stock had a trading volume of 8,356,921 shares, compared to its average volume of 7,612,797. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a market cap of $91.20 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.92 and a beta of 0.18. The company’s fifty day simple moving average is $75.11 and its 200 day simple moving average is $77.29. Gilead Sciences, Inc. has a 12-month low of $71.37 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The firm had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.07 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s payout ratio is currently 68.44%.

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.