Pinnacle Wealth Planning Services Inc. Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Pinnacle Wealth Planning Services Inc. lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,575 shares of the biopharmaceutical company’s stock after selling 2,128 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Gilead Sciences were worth $515,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC raised its position in Gilead Sciences by 9.6% in the fourth quarter. Lindbrook Capital LLC now owns 4,585 shares of the biopharmaceutical company’s stock valued at $424,000 after purchasing an additional 403 shares during the period. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $3,445,000. Inceptionr LLC raised its position in Gilead Sciences by 32.4% in the fourth quarter. Inceptionr LLC now owns 17,143 shares of the biopharmaceutical company’s stock valued at $1,583,000 after purchasing an additional 4,192 shares during the period. Straight Path Wealth Management purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $435,000. Finally, Raymond James Financial Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $207,340,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $91.96, for a total transaction of $781,660.00. Following the sale, the chief financial officer now owns 132,373 shares in the company, valued at approximately $12,173,021.08. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 293,356 shares of company stock worth $29,166,240. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GILD. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Oppenheimer boosted their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target 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. Finally, Wolfe Research began coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.24.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $116.04 on Friday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $117.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a market capitalization of $144.62 billion, a price-to-earnings ratio of 313.62, a PEG ratio of 0.71 and a beta of 0.21. The company has a 50-day simple moving average of $99.15 and a 200-day simple moving average of $91.09.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results 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%. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.72%. Gilead Sciences’s dividend payout ratio is currently 854.05%.

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.