River Global Investors LLP Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

River Global Investors LLP lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,182 shares of the biopharmaceutical company’s stock after selling 158 shares during the quarter. River Global Investors LLP’s holdings in Gilead Sciences were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Gilead Sciences in the 3rd quarter worth about $26,000. Tompkins Financial Corp boosted its holdings in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $29,000. Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences during the fourth quarter valued at approximately $40,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.8 %

NASDAQ:GILD traded down $0.55 during midday trading on Friday, hitting $64.78. The stock had a trading volume of 7,822,720 shares, compared to its average volume of 7,345,331. The stock has a 50-day moving average of $70.55 and a 200 day moving average of $75.78. The company has a market capitalization of $80.66 billion, a price-to-earnings ratio of 179.94, a PEG ratio of 1.30 and a beta of 0.22. Gilead Sciences, Inc. has a one year low of $64.33 and a one year high of $87.86. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion for 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%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.75%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GILD. Truist Financial lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Barclays reduced their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Morgan Stanley dropped their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. UBS Group cut their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, TD Cowen lowered their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Hold” and a consensus target price of $83.69.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.