Newbridge Financial Services Group Inc. Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Newbridge Financial Services Group Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,628 shares of the biopharmaceutical company’s stock after selling 626 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Gilead Sciences were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in shares of Gilead Sciences by 2.0% in the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock valued at $6,753,350,000 after buying an additional 1,642,736 shares in the last quarter. Capital Research Global Investors lifted its position in Gilead Sciences by 3.0% during the fourth quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock valued at $4,832,824,000 after acquiring an additional 1,743,418 shares during the last quarter. Wellington Management Group LLP boosted its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Morgan Stanley grew its holdings in Gilead Sciences by 0.9% in the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after purchasing an additional 158,794 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Gilead Sciences during the fourth quarter worth $1,301,624,000. Institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $63.15 on Wednesday. The company has a 50 day moving average price of $65.79 and a 200-day moving average price of $73.13. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The firm has a market cap of $78.68 billion, a price-to-earnings ratio of 175.42, a price-to-earnings-growth ratio of 1.28 and a beta of 0.20. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.37 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.88%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Mizuho dropped their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. TD Cowen cut their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, UBS Group cut their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.69.

Gilead Sciences Company 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.