Noesis Capital Mangement Corp Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Noesis Capital Mangement Corp lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,839 shares of the biopharmaceutical company’s stock after selling 1,274 shares during the period. Gilead Sciences makes up about 2.0% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 20th largest position. Noesis Capital Mangement Corp’s holdings in Gilead Sciences were worth $10,608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after purchasing an additional 841,776 shares during the period. Wellington Management Group LLP raised its stake in shares of Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. FMR LLC raised its stake in shares of Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Geode Capital Management LLC grew its position in shares of Gilead Sciences by 2.1% during the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after buying an additional 574,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Gilead Sciences by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock worth $650,009,000 after buying an additional 224,960 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $12,626,253.06. This represents a 52.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 293,356 shares of company stock valued at $29,166,240 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 2.1 %

Gilead Sciences stock opened at $114.31 on Friday. The firm has a market capitalization of $142.46 billion, a P/E ratio of 308.95, a P/E/G ratio of 0.71 and a beta of 0.18. The company has a 50-day simple moving average of $97.42 and a 200-day simple moving average of $89.94. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $114.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.76%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is presently 854.05%.

Analysts Set New Price Targets

GILD has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Robert W. Baird raised their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Finally, Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Eleven equities research 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 stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

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.