Assetmark Inc. Sells 1,880,494 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Assetmark Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 86.4% during the 4th quarter, Holdings Channel reports. The firm owned 296,870 shares of the biopharmaceutical company’s stock after selling 1,880,494 shares during the period. Assetmark Inc.’s holdings in Gilead Sciences were worth $27,422,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Avior Wealth Management LLC boosted its stake in shares of Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the last quarter. Southland Equity Partners LLC boosted its stake in shares of Gilead Sciences by 3.6% in the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 110 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 111 shares during the last quarter. Berkshire Bank boosted its stake in shares of Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 111 shares during the last quarter. Finally, TFB Advisors LLC boosted its stake in shares of Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ GILD opened at $115.44 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $117.39. The company has a market capitalization of $143.87 billion, a PE ratio of 312.00, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The firm’s 50 day moving average is $98.71 and its 200-day moving average is $90.91.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 293,356 shares of company stock worth $29,166,240. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GILD. Barclays lifted their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Bank of America lifted their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.24.

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.