McGlone Suttner Wealth Management Inc. Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

McGlone Suttner Wealth Management Inc. cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 33.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,741 shares of the biopharmaceutical company’s stock after selling 1,401 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Gilead Sciences were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. raised its holdings in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Gilead Sciences in the first quarter valued at $29,000. Cedar Wealth Management LLC raised its holdings in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the second quarter valued at $33,000. Finally, Financial Connections Group Inc. acquired a new stake in Gilead Sciences in the second quarter valued at $34,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of GILD opened at $84.95 on Monday. The firm has a 50-day moving average price of $79.87 and a 200 day moving average price of $72.33. The firm has a market capitalization of $105.84 billion, a PE ratio of 235.97, a P/E/G ratio of 2.98 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Barclays increased their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $84.83.

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.