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

Investment Partners LTD. decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,844 shares of the biopharmaceutical company’s stock after selling 539 shares during the quarter. Investment Partners LTD.’s holdings in Gilead Sciences were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GILD. Etesian Wealth Advisors Inc. lifted its position in Gilead Sciences by 0.7% during the 4th quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock worth $1,486,000 after acquiring an additional 128 shares during the period. Financial Counselors Inc. raised its stake in shares of Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 128 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Gilead Sciences by 3.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 130 shares during the period. Steph & Co. boosted its position in Gilead Sciences by 1.9% in the fourth quarter. Steph & Co. now owns 7,548 shares of the biopharmaceutical company’s stock valued at $611,000 after buying an additional 142 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in Gilead Sciences by 3.5% in the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after buying an additional 147 shares during the period. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays decreased their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $74.00 price target on shares of Gilead Sciences in a research report on Friday, June 14th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Finally, HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday, April 24th. Twelve equities research 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $0.08 during trading hours on Friday, reaching $68.91. 658,806 shares of the company’s stock were exchanged, compared to its average volume of 7,582,096. The business has a fifty day moving average of $65.89 and a two-hundred day moving average of $72.75. The company has a market capitalization of $85.85 billion, a P/E ratio of 191.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.20. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. As a group, research analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.47%. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.