GAMMA Investing LLC Acquires Shares of 6,709 Gilead Sciences, Inc. (NASDAQ:GILD)

GAMMA Investing LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, Holdings Channel.com reports. The firm acquired 6,709 shares of the biopharmaceutical company’s stock, valued at approximately $525,000.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Gilead Sciences in the third quarter worth about $26,000. Tompkins Financial Corp grew its holdings in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares in the last quarter. Fortitude Family Office LLC bought a new position in Gilead Sciences during the 4th quarter worth about $29,000. Rakuten Securities Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at about $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at about $40,000. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

GILD traded down $0.15 on Wednesday, hitting $66.88. 2,967,901 shares of the company’s stock were exchanged, compared to its average volume of 7,245,742. Gilead Sciences, Inc. has a fifty-two week low of $65.90 and a fifty-two week high of $87.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average price of $71.68 and a 200-day moving average price of $76.46. The stock has a market cap of $83.27 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm earned $1.67 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 6.28 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.61%. Gilead Sciences’s payout ratio is presently 68.44%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a research report on Wednesday. Mizuho decreased their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. StockNews.com lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Barclays cut their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.57.

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.