Cerro Pacific Wealth Advisors LLC Sells 4,721 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cerro Pacific Wealth Advisors LLC trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 61.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,008 shares of the biopharmaceutical company’s stock after selling 4,721 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Gilead Sciences were worth $278,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GILD. nVerses Capital LLC bought a new position in shares of Gilead Sciences in the third quarter worth $25,000. Valued Wealth Advisors LLC grew its position in Gilead Sciences by 101.9% during 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 position in Gilead Sciences during the fourth quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter worth about $33,000. Finally, Quarry LP purchased a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $92.92 on Friday. The business has a 50 day moving average of $91.63 and a 200 day moving average of $84.63. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a market cap of $115.80 billion, a PE ratio of 1,032.44, a P/E/G ratio of 1.31 and a beta of 0.18. 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 issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders 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 annualized dividend and a yield of 3.31%. Gilead Sciences’s payout ratio is 3,422.22%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $87.00 to $113.00 in a report on Friday, January 10th. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Daiwa America raised Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Finally, Bank of America reiterated a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.96.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction dated 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 completion of the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 456,234 shares of company stock worth $42,130,461. Company insiders own 0.16% of the company’s stock.

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.