Hemenway Trust Co LLC Buys New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Hemenway Trust Co LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,650 shares of the biopharmaceutical company’s stock, valued at approximately $487,000.

Other hedge funds have also made changes to their positions in the company. Altfest L J & Co. Inc. purchased a new position in Gilead Sciences in the fourth quarter valued at about $210,000. Federated Hermes Inc. raised its position in Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after purchasing an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. raised its position in Gilead Sciences by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after purchasing an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $74,000. Finally, Eagle Asset Management Inc. increased its position in shares of Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after acquiring an additional 60,697 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GILD. Barclays dropped their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $74.00 target price on shares of Gilead Sciences in a research report on Monday, July 1st. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.00.

Gilead Sciences Stock Performance

GILD stock traded up $1.22 during midday trading on Thursday, reaching $69.97. The company had a trading volume of 9,595,036 shares, compared to its average volume of 7,507,853. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average price of $66.32 and a 200 day moving average price of $71.87. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market capitalization of $87.17 billion, a PE ratio of 194.36, a P/E/G ratio of 2.87 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued 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 company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’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. Analysts anticipate that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders 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 annualized dividend and a dividend yield of 4.40%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.