Investment Partners LTD. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Investment Partners LTD. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,383 shares of the biopharmaceutical company’s stock after selling 685 shares during the quarter. Investment Partners LTD.’s holdings in Gilead Sciences were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at approximately $26,000. Tompkins Financial Corp increased its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $40,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Friday. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a research note on Wednesday. Mizuho decreased their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research note on Friday. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and a consensus target price of $83.87.

Gilead Sciences Trading Up 0.2 %

Shares of NASDAQ GILD traded up $0.15 during midday trading on Friday, reaching $65.42. 12,382,425 shares of the stock were exchanged, compared to its average volume of 6,443,315. The company has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. Gilead Sciences, Inc. has a 52-week low of $64.63 and a 52-week high of $87.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $71.28 and a 200-day moving average price of $76.25.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 4.2 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 directly 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 is available through this hyperlink. Corporate 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.