Independent Solutions Wealth Management LLC Decreases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Independent Solutions Wealth Management LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,170 shares of the biopharmaceutical company’s stock after selling 350 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Gilead Sciences were worth $853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Gilead Sciences during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter worth about $33,000. Cedar Wealth Management LLC grew its holdings in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in Gilead Sciences in the 2nd quarter worth about $34,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 8,500 shares of Gilead Sciences stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the transaction, the chief financial officer now directly owns 132,373 shares of the company’s stock, valued at $12,173,021.08. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 455,734 shares of company stock worth $42,069,746 in the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 0.4 %

GILD stock traded up $0.38 on Thursday, hitting $91.07. 3,148,209 shares of the company’s stock were exchanged, compared to its average volume of 7,045,920. The firm has a 50 day moving average price of $90.36 and a two-hundred day moving average price of $80.14. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The stock has a market cap of $113.50 billion, a P/E ratio of 1,011.89, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $2.29 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GILD shares. Piper Sandler increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $84.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Finally, Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.