Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Raised by Grimes & Company Inc.

Grimes & Company Inc. boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,406 shares of the biopharmaceutical company’s stock after acquiring an additional 362 shares during the period. Grimes & Company Inc.’s holdings in Gilead Sciences were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tompkins Financial Corp lifted its stake in Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. bought a new position in Gilead Sciences in the 4th quarter worth approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $68.61 on Friday. The firm has a market cap of $85.48 billion, a price-to-earnings ratio of 190.58, a P/E/G ratio of 2.92 and a beta of 0.20. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. 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 business has a fifty day simple moving average of $65.98 and a 200 day simple moving average of $72.58.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.37 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. UBS Group reduced their price objective 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. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Wells Fargo & Company cut their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Twelve equities research 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, the stock has a consensus rating of “Hold” and a consensus price target of $83.47.

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.