Iams Wealth Management LLC Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Iams Wealth Management LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.1% during the first quarter, Holdings Channel reports. The fund owned 24,180 shares of the biopharmaceutical company’s stock after selling 3,630 shares during the period. Gilead Sciences comprises 1.2% of Iams Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Iams Wealth Management LLC’s holdings in Gilead Sciences were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bridgewater Associates LP increased its position in shares of Gilead Sciences by 122.7% during the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company’s stock worth $42,577,000 after acquiring an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company’s stock valued at $26,750,000 after buying an additional 14,009 shares during the last quarter. Jennison Associates LLC acquired a new position in Gilead Sciences in the fourth quarter valued at $87,163,000. Columbus Macro LLC boosted its stake in Gilead Sciences by 55.9% in the fourth quarter. Columbus Macro LLC now owns 25,103 shares of the biopharmaceutical company’s stock valued at $2,319,000 after acquiring an additional 9,004 shares in the last quarter. Finally, NatWest Group plc acquired a new position in Gilead Sciences in the fourth quarter valued at $6,808,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.4%

Shares of NASDAQ GILD opened at $109.33 on Wednesday. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The firm has a fifty day moving average of $105.45 and a 200-day moving average of $101.10. The stock has a market capitalization of $136.00 billion, a PE ratio of 295.49, a P/E/G ratio of 0.71 and a beta of 0.26. 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 (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period in the previous year, the company earned ($1.32) EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.89%. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GILD shares. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Morgan Stanley raised their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Bank of America raised their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,174 shares of the company’s stock, valued at approximately $17,893,713.60. This represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the sale, the insider now directly owns 121,152 shares of the company’s stock, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,929 shares of company stock valued at $6,748,980. Company insiders own 0.27% 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.