Raleigh Capital Management Inc. Sells 3,014 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Raleigh Capital Management Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.1% in the fourth quarter, Holdings Channel reports. The fund owned 30,183 shares of the biopharmaceutical company’s stock after selling 3,014 shares during the quarter. Gilead Sciences accounts for about 1.1% of Raleigh Capital Management Inc.’s portfolio, making the stock its 13th largest position. Raleigh Capital Management Inc.’s holdings in Gilead Sciences were worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GILD. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the third quarter worth about $25,000. Valued Wealth Advisors LLC raised its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the second quarter valued at approximately $33,000. Finally, Quarry LP purchased a new position in Gilead Sciences in the second quarter worth $43,000. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GILD. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Bank of America restated a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $87.00 to $113.00 in a research note on Friday, January 10th. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $97.96.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Wednesday, January 15th. The stock was 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 of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 456,234 shares of company stock worth $42,130,461. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $93.04 on Thursday. The business has a 50-day moving average price of $91.63 and a 200-day moving average price of $84.63. The firm has a market cap of $115.95 billion, a price-to-earnings ratio of 1,033.78, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the firm posted $2.29 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given 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 3,422.22%.

Gilead Sciences 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.