Contravisory Investment Management Inc. Makes New $589,000 Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Contravisory Investment Management Inc. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,261 shares of the biopharmaceutical company's stock, valued at approximately $589,000.

Several other large investors have also bought and sold shares of the business. Peak Financial Advisors LLC grew its stake in shares of Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after purchasing an additional 100 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Gilead Sciences by 10.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,380 shares of the biopharmaceutical company's stock valued at $1,387,000 after buying an additional 1,143 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Gilead Sciences by 6.9% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 285,817 shares of the biopharmaceutical company's stock worth $32,012,000 after buying an additional 18,343 shares during the last quarter. Unigestion Holding SA acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $4,325,000. Finally, HBW Advisory Services LLC increased its stake in shares of Gilead Sciences by 8.4% in the 1st quarter. HBW Advisory Services LLC now owns 3,365 shares of the biopharmaceutical company's stock valued at $377,000 after acquiring an additional 262 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock traded up $1.44 during mid-day trading on Thursday, hitting $110.46. The stock had a trading volume of 10,818,330 shares, compared to its average volume of 7,746,937. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $137.40 billion, a P/E ratio of 298.54, a P/E/G ratio of 0.71 and a beta of 0.26. The firm has a fifty day simple moving average of $105.40 and a 200 day simple moving average of $101.15. Gilead Sciences, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same period last year, the company posted ($1.32) EPS. The firm's quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the transaction, the chief financial officer now owns 168,174 shares in the company, valued at $17,893,713.60. This trade represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,929 shares of company stock valued at $6,748,980 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. BMO Capital Markets increased their price target on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada increased their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.55.

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.