WealthBridge Investment Counsel Inc. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

WealthBridge Investment Counsel Inc. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,405 shares of the biopharmaceutical company’s stock after selling 800 shares during the quarter. Gilead Sciences comprises approximately 2.8% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 17th biggest position. WealthBridge Investment Counsel Inc.’s holdings in Gilead Sciences were worth $7,777,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GILD. Bridgewater Associates LP raised its position in Gilead Sciences by 122.7% in 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 in the last quarter. Nissay Asset Management Corp Japan ADV raised its position 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 worth $26,750,000 after acquiring an additional 14,009 shares in the last quarter. NatWest Group plc purchased a new position in Gilead Sciences in the fourth quarter worth $6,808,000. Empowered Funds LLC raised its position in Gilead Sciences by 55.8% in the fourth quarter. Empowered Funds LLC now owns 219,579 shares of the biopharmaceutical company’s stock worth $20,283,000 after acquiring an additional 78,657 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in Gilead Sciences by 54.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company’s stock worth $3,422,000 after acquiring an additional 13,086 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Royal Bank of Canada upped their target price on Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald assumed coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 target price on the stock. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Gilead Sciences Stock Up 1.8%

GILD opened at $112.46 on Friday. The business’s fifty day simple moving average is $105.39 and its 200 day simple moving average is $101.47. 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, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96. The firm has a market cap of $139.89 billion, a P/E ratio of 303.95, a PEG ratio of 0.71 and a beta of 0.26.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company earned ($1.32) EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s payout ratio is 66.53%.

Insiders Place Their Bets

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now directly owns 620,268 shares in the company, valued at $68,489,992.56. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the transaction, the chief financial officer now owns 168,174 shares in the company, valued at approximately $17,893,713.60. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,929 shares of company stock valued at $6,748,980. 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.