Baker Tilly Wealth Management LLC Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Baker Tilly Wealth Management LLC cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,308 shares of the biopharmaceutical company’s stock after selling 313 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Gilead Sciences were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. raised its stake in Gilead Sciences by 198.3% during 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 during the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences during the third quarter valued at $25,000. Palisade Asset Management LLC bought a new position in Gilead Sciences in the first quarter valued at about $29,000. Cedar Wealth Management LLC boosted its position 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 purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter worth about $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

GILD opened at $89.22 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $89.74. The firm has a 50 day moving average of $82.46 and a two-hundred day moving average of $73.48. The firm has a market capitalization of $111.08 billion, a PE ratio of 108.54, a P/E/G ratio of 3.07 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 (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.76 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.45%. Gilead Sciences’s dividend payout ratio is presently 375.61%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were 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 approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,033,340 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $78.00 to $100.00 in a research note on Monday, October 7th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, Barclays upped their price target on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

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.