Ballentine Partners LLC Trims Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Ballentine Partners LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 27.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,051 shares of the biopharmaceutical company’s stock after selling 4,084 shares during the quarter. Ballentine Partners LLC’s holdings in Gilead Sciences were worth $809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Etesian Wealth Advisors Inc. lifted its holdings in Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after acquiring an additional 128 shares during the period. Financial Counselors Inc. grew its position in shares of Gilead Sciences by 1.5% during the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after acquiring an additional 128 shares during the period. Revolve Wealth Partners LLC raised its holdings in Gilead Sciences by 3.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 130 shares during the period. Steph & Co. boosted its position in Gilead Sciences by 1.9% during the fourth quarter. Steph & Co. now owns 7,548 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 142 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in Gilead Sciences by 3.5% in the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.8 %

Gilead Sciences stock traded up $0.55 during midday trading on Monday, reaching $71.22. 597,032 shares of the stock traded hands, compared to its average volume of 7,556,916. The firm has a market cap of $88.73 billion, a PE ratio of 196.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.20. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. The company has a 50-day simple moving average of $65.74 and a two-hundred day simple moving average of $72.89. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the sale, the insider now directly 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 SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research analyst reports. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research note on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Barclays decreased their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a report on Friday, April 19th. Finally, Morgan Stanley dropped their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Company 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.