Thrive Wealth Management LLC Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Thrive Wealth Management LLC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 25.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,206 shares of the biopharmaceutical company’s stock after selling 1,788 shares during the period. Thrive Wealth Management LLC’s holdings in Gilead Sciences were worth $436,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in Gilead Sciences during the second quarter valued at about $25,328,000. Legal & General Group Plc grew its stake in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $462,000. Brookstone Capital Management grew its stake in shares of Gilead Sciences by 751.1% in the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after buying an additional 112,305 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of Gilead Sciences by 10.7% in the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock valued at $26,733,000 after buying an additional 31,849 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Finally, Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.12.

Gilead Sciences Stock Performance

NASDAQ:GILD traded up $0.42 during trading hours on Friday, reaching $84.59. 4,054,307 shares of the stock were exchanged, compared to its average volume of 7,221,453. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $79.06 and a 200-day simple moving average of $71.93. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The stock has a market capitalization of $105.39 billion, a P/E ratio of 234.97, a P/E/G ratio of 2.91 and a beta of 0.18.

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

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock valued at $3,033,340. 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.