Gilead Sciences, Inc. (NASDAQ:GILD) Holdings Cut by Old North State Wealth Management LLC

Old North State Wealth Management LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.8% during the first quarter, Holdings Channel.com reports. The firm owned 56,922 shares of the biopharmaceutical company’s stock after selling 1,626 shares during the period. Gilead Sciences accounts for about 3.6% of Old North State Wealth Management LLC’s holdings, making the stock its 5th largest holding. Old North State Wealth Management LLC’s holdings in Gilead Sciences were worth $6,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Gilead Sciences during the 4th quarter worth about $1,789,254,000. FMR LLC lifted its holdings in shares of Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Gilead Sciences by 13,891.1% during the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock worth $285,761,000 after acquiring an additional 2,532,070 shares during the period. Northern Trust Corp lifted its holdings in shares of Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth approximately $207,340,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now owns 620,268 shares of the company’s stock, valued at $68,489,992.56. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 121,152 shares in the company, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock valued at $5,236,245 in the last quarter. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Stock Up 1.6%

GILD stock opened at $107.62 on Friday. The company has a market capitalization of $133.87 billion, a P/E ratio of 22.66, a PEG ratio of 0.69 and a beta of 0.29. The firm has a 50 day simple moving average of $106.27 and a 200-day simple moving average of $103.15. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a twelve month low of $66.01 and a twelve month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.32) earnings per share. On average, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.94%. Gilead Sciences’s dividend payout ratio (DPR) is presently 66.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on GILD shares. Morgan Stanley increased their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Gilead Sciences Company 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.