Griffin Asset Management Inc. Has $1.21 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Griffin Asset Management Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,550 shares of the biopharmaceutical company’s stock after selling 417 shares during the quarter. Griffin Asset Management Inc.’s holdings in Gilead Sciences were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC lifted its holdings in shares of Gilead Sciences by 2.1% in the 1st quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 152 shares in the last quarter. Occidental Asset Management LLC bought a new position in shares of Gilead Sciences in the first quarter valued at $2,093,000. New England Research & Management Inc. grew its holdings in shares of Gilead Sciences by 204.5% during the first quarter. New England Research & Management Inc. now owns 16,825 shares of the biopharmaceutical company’s stock valued at $1,232,000 after buying an additional 11,300 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Gilead Sciences by 6.5% during the first quarter. Financial Management Professionals Inc. now owns 5,878 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 361 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of Gilead Sciences by 18.4% in the 1st quarter. Kathmere Capital Management LLC now owns 2,964 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 460 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GILD. Morgan Stanley cut their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. TD Cowen dropped their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday, April 24th. Finally, UBS Group lowered their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and a consensus price target of $83.47.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Price Performance

GILD opened at $68.61 on Friday. The firm has a 50-day moving average price of $65.98 and a 200-day moving average price of $72.58. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $85.48 billion, a price-to-earnings ratio of 190.58, a PEG ratio of 2.92 and a beta of 0.20.

Gilead Sciences (NASDAQ:GILD) last released 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. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.49%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

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.