Cognios Beta Neutral Large Cap Fund LP Sells 907 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cognios Beta Neutral Large Cap Fund LP trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% during the fourth quarter, Holdings Channel reports. The fund owned 6,894 shares of the biopharmaceutical company’s stock after selling 907 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Gilead Sciences were worth $558,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Gilead Sciences in the third quarter valued at about $26,000. Tompkins Financial Corp raised its position in shares of Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Rakuten Securities Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $40,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the sale, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Up 0.1 %

Shares of NASDAQ:GILD traded up $0.05 during trading on Wednesday, reaching $67.08. The stock had a trading volume of 8,464,533 shares, compared to its average volume of 7,317,518. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences, Inc. has a 52 week low of $65.90 and a 52 week high of $87.86. The firm’s fifty day moving average is $71.68 and its 200 day moving average is $76.46. The stock has a market cap of $83.52 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 6.28 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.59%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.44%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group lowered their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Barclays dropped their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Mizuho decreased their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Finally, HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.57.

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.