Red Door Wealth Management LLC Sells 163 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Red Door Wealth Management LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,960 shares of the biopharmaceutical company’s stock after selling 163 shares during the period. Red Door Wealth Management LLC’s holdings in Gilead Sciences were worth $551,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GILD. Public Sector Pension Investment Board lifted its holdings in shares of Gilead Sciences by 72.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 47,722 shares of the biopharmaceutical company’s stock valued at $3,274,000 after purchasing an additional 20,120 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Gilead Sciences during the second quarter worth $8,269,000. Insigneo Advisory Services LLC raised its stake in shares of Gilead Sciences by 1.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock valued at $661,000 after purchasing an additional 148 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Gilead Sciences by 43.2% in the second quarter. Point72 Asset Management L.P. now owns 512,125 shares of the biopharmaceutical company’s stock valued at $35,137,000 after purchasing an additional 154,525 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Gilead Sciences by 9.8% during the second quarter. Fred Alger Management LLC now owns 27,357 shares of the biopharmaceutical company’s stock worth $1,877,000 after buying an additional 2,442 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 456,234 shares of company stock worth $42,130,461 in the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

GILD opened at $92.92 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The business’s fifty day moving average is $91.63 and its 200-day moving average is $84.63. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market cap of $115.80 billion, a P/E ratio of 1,032.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analyst Upgrades and Downgrades

GILD has been the topic of several research reports. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wolfe Research initiated coverage on shares of Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their target price on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.96.

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.