Impact Partnership Wealth LLC Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Impact Partnership Wealth LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,906 shares of the biopharmaceutical company's stock after selling 5,044 shares during the quarter. Impact Partnership Wealth LLC's holdings in Gilead Sciences were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Bridgewater Associates LP raised its position in shares of Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after acquiring an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Gilead Sciences by 5.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Gilead Sciences by 14.5% during the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after purchasing an additional 13,086 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $1,699,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GILD shares. Oppenheimer reduced their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $111.38.

Gilead Sciences Trading Down 0.5%

Shares of NASDAQ:GILD traded down $0.58 during mid-day trading on Friday, reaching $108.22. 6,627,889 shares of the company were exchanged, compared to its average volume of 7,673,118. The firm has a market cap of $134.62 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 0.70 and a beta of 0.29. Gilead Sciences, Inc. has a 1 year low of $70.78 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm's 50-day simple moving average is $108.81 and its 200 day simple moving average is $105.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced 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. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the business earned ($1.32) EPS. The company's revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.79 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. Gilead Sciences's dividend payout ratio is presently 66.53%.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the sale, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the sale, the chief executive officer directly owned 615,725 shares in the company, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,000 shares of company stock valued at $7,844,775. Company insiders own 0.27% 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.