Prosperity Consulting Group LLC Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Prosperity Consulting Group LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,797 shares of the biopharmaceutical company’s stock after selling 1,767 shares during the period. Prosperity Consulting Group LLC’s holdings in Gilead Sciences were worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new stake in Gilead Sciences during the fourth quarter valued at about $27,436,000. Gilder Gagnon Howe & Co. LLC increased its holdings in Gilead Sciences by 88.5% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 37,144 shares of the biopharmaceutical company’s stock valued at $3,431,000 after acquiring an additional 17,437 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Gilead Sciences by 6.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 24,378 shares of the biopharmaceutical company’s stock worth $2,252,000 after buying an additional 1,496 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of Gilead Sciences by 8.5% during the 4th quarter. Capital Analysts LLC now owns 5,444 shares of the biopharmaceutical company’s stock worth $503,000 after acquiring an additional 426 shares in the last quarter. Finally, UP Strategic Wealth Investment Advisors LLC lifted its position in Gilead Sciences by 5.2% during the fourth quarter. UP Strategic Wealth Investment Advisors LLC now owns 4,844 shares of the biopharmaceutical company’s stock valued at $447,000 after purchasing an additional 241 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GILD. JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Bank of America raised their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler raised their price target on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.43.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 302,785 shares of company stock valued at $30,540,875 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Gilead Sciences Stock Down 2.8 %

NASDAQ:GILD opened at $103.17 on Friday. The company’s 50-day simple moving average is $109.21 and its 200-day simple moving average is $98.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The stock has a market capitalization of $128.46 billion, a P/E ratio of 278.84, a P/E/G ratio of 0.71 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.08. The company 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 1.67% and a return on equity of 31.63%. During the same period last year, the firm earned ($1.32) earnings per share. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 3.06%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

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.