Alpha Cubed Investments LLC Has $539,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Alpha Cubed Investments LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,831 shares of the biopharmaceutical company’s stock after selling 153 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Gilead Sciences were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after acquiring an additional 841,776 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. FMR LLC grew its stake in shares of Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC increased its holdings in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after purchasing an additional 574,421 shares during the period. Finally, Legal & General Group Plc raised its position in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 456,234 shares of company stock worth $42,130,461 over the last quarter. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Wolfe Research initiated coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective on the stock. Citigroup assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

Gilead Sciences Trading Up 1.2 %

GILD opened at $92.96 on Wednesday. The firm has a market capitalization of $115.85 billion, a PE ratio of 1,032.89, a P/E/G ratio of 1.29 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company’s 50-day moving average is $91.65 and its 200 day moving average is $84.38.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter last year, the company earned $2.29 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts predict that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.77 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.31%. Gilead Sciences’s payout ratio is 3,422.22%.

About Gilead Sciences

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.