Baker Tilly Wealth Management LLC Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Baker Tilly Wealth Management LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 62.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,621 shares of the biopharmaceutical company’s stock after selling 10,845 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Gilead Sciences were worth $454,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Gilead Sciences in the 4th quarter valued at approximately $1,649,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Gilead Sciences during the 4th quarter worth $49,000. Mackenzie Financial Corp raised its stake in Gilead Sciences by 8.9% during the 4th quarter. Mackenzie Financial Corp now owns 535,557 shares of the biopharmaceutical company’s stock worth $43,385,000 after acquiring an additional 43,630 shares in the last quarter. Flputnam Investment Management Co. raised its stake in Gilead Sciences by 15.8% during the 4th quarter. Flputnam Investment Management Co. now owns 6,070 shares of the biopharmaceutical company’s stock worth $492,000 after acquiring an additional 826 shares in the last quarter. Finally, Imprint Wealth LLC raised its stake in Gilead Sciences by 20.8% during the 4th quarter. Imprint Wealth LLC now owns 3,347 shares of the biopharmaceutical company’s stock worth $271,000 after acquiring an additional 576 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 0.8 %

GILD traded down $0.56 during trading on Friday, hitting $73.78. 5,148,098 shares of the company’s stock were exchanged, compared to its average volume of 7,321,358. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The stock has a 50 day moving average price of $70.80 and a 200 day moving average price of $70.31. The firm has a market cap of $91.92 billion, a P/E ratio of 204.94, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 4.17%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GILD shares. Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday. Maxim Group lowered their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $71.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.94.

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.