Exchange Traded Concepts LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 61.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,651 shares of the biopharmaceutical company's stock after selling 204,674 shares during the quarter. Exchange Traded Concepts LLC's holdings in Gilead Sciences were worth $14,639,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Redwood Financial Network Corp boosted its stake in shares of Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 98 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in Gilead Sciences by 2.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after acquiring an additional 100 shares during the last quarter. Peak Financial Advisors LLC grew its holdings in Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after acquiring an additional 100 shares in the last quarter. Perkins Coie Trust Co increased its position in shares of Gilead Sciences by 2.6% in the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after purchasing an additional 100 shares during the last quarter. Finally, CFO4Life Group LLC raised its stake in shares of Gilead Sciences by 2.7% in the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after purchasing an additional 112 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GILD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Finally, Bank of America boosted their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.
Check Out Our Latest Research Report on GILD
Insiders Place Their Bets
In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the completion of the transaction, the chief financial officer now owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $330,510.00. Following the completion of the sale, the insider now owns 120,168 shares in the company, valued at approximately $13,238,908.56. This trade represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock worth $5,236,245 over the last ninety days. Company insiders own 0.27% of the company's stock.
Gilead Sciences Price Performance
Shares of NASDAQ GILD remained flat at $108.00 during midday trading on Wednesday. The stock had a trading volume of 11,820,822 shares, compared to its average volume of 7,755,253. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $119.96. The business's fifty day moving average is $105.88 and its 200 day moving average is $102.49. The stock has a market cap of $134.34 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 0.72 and a beta of 0.29.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.32) earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.
Gilead Sciences Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.93%. Gilead Sciences's payout ratio is 66.53%.
About Gilead Sciences
(
Free Report)
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.
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