DORCHESTER WEALTH MANAGEMENT Co Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

DORCHESTER WEALTH MANAGEMENT Co lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,358 shares of the biopharmaceutical company’s stock after selling 200 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Gilead Sciences were worth $1,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences in the 3rd quarter worth $25,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences during the 1st quarter valued at about $29,000. Cedar Wealth Management LLC grew its position in shares of Gilead Sciences by 51.6% during the second 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences in the second quarter worth about $33,000. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Wells Fargo & Company upgraded shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Barclays upped their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Trading Up 1.8 %

Shares of NASDAQ:GILD traded up $1.60 during trading on Thursday, reaching $88.83. 1,105,625 shares of the company were exchanged, compared to its average volume of 7,020,382. The business’s fifty day simple moving average is $81.87 and its 200-day simple moving average is $73.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $89.20. The firm has a market capitalization of $110.67 billion, a PE ratio of 245.53, a P/E/G ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. On average, research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock valued at $3,033,340. Company insiders own 0.16% of the company’s stock.

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.