True Wealth Design LLC Sells 11,635 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

True Wealth Design LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 94.8% during the third quarter, Holdings Channel.com reports. The firm owned 635 shares of the biopharmaceutical company’s stock after selling 11,635 shares during the quarter. True Wealth Design LLC’s holdings in Gilead Sciences were worth $53,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its stake in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Cedar Wealth Management LLC boosted its holdings in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Mizuho lifted their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial upped their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $92.58 on Friday. The company has a market capitalization of $115.38 billion, a P/E ratio of 1,028.67, a P/E/G ratio of 2.87 and a beta of 0.17. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The business’s 50 day moving average is $88.26 and its two-hundred day moving average is $77.76. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. Analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 6,788 shares of the business’s 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 completion of the sale, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,946 shares of company stock worth $20,683,305 in the last 90 days. Insiders own 0.16% 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.