Arvest Investments Inc. Sells 166 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Arvest Investments Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,214 shares of the biopharmaceutical company’s stock after selling 166 shares during the period. Arvest Investments Inc.’s holdings in Gilead Sciences were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Tompkins Financial Corp lifted its position in Gilead Sciences by 223.1% in 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 in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Private Wealth Management Group LLC bought a new stake in shares of Gilead Sciences in the fourth quarter valued at about $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Gilead Sciences during the fourth quarter worth about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GILD. Morgan Stanley cut their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a report on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Finally, Barclays lowered their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of “Hold” and an average target price of $83.47.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $66.59 on Thursday. The firm has a market capitalization of $82.96 billion, a price-to-earnings ratio of 184.97, a PEG ratio of 2.91 and a beta of 0.18. 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’s 50-day moving average price is $66.04 and its 200-day moving average price is $72.33. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) 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 business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.