Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC sold 5,881 shares of Gilead Sciences, reducing its stake by 38.9% during the first quarter.
• Gilead Sciences reported a quarterly earnings per share of $2.01, exceeding analysts' expectations, and had a 1.4% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.79, with an annualized yield of 2.6%, payable on September 29th.

Longfellow Investment Management Co. LLC cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 38.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,254 shares of the biopharmaceutical company's stock after selling 5,881 shares during the period. Longfellow Investment Management Co. LLC's holdings in Gilead Sciences were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares during the last quarter. Northern Trust Corp raised its position in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Gilead Sciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after purchasing an additional 1,605,730 shares during the last quarter. Royal Bank of Canada lifted its stake in Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Gilead Sciences during the first quarter valued at approximately $620,415,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GILD shares. UBS Group increased their price target on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $127.00 in a research report on Friday. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, Morgan Stanley lifted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.82.

Gilead Sciences Stock Down 0.4%

Shares of NASDAQ GILD traded down $0.45 during mid-day trading on Tuesday, reaching $120.02. 6,084,059 shares of the company were exchanged, compared to its average volume of 6,236,199. Gilead Sciences, Inc. has a 1 year low of $72.67 and a 1 year high of $121.83. The firm has a 50-day moving average of $111.37 and a 200 day moving average of $107.91. The stock has a market cap of $148.92 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 0.76 and a beta of 0.33. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 earnings per share. On average, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Insider Activity

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the transaction, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. The trade was a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last ninety days. 0.27% of the stock is currently owned by 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.