National Asset Management Inc. reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ: GILD – Get Rating) by 48.9% during the 1st quarter, reports Holdings Channel.com. The company held 19,990 shares of the biopharmaceutical company after selling 19,112 shares during the quarter. National Asset Management Inc.’s holdings in Gilead Sciences were worth $1,189,000 at the end of the most recent reporting period.
Other hedge funds also changed their holdings in the company. Gilbert & Cook Inc. increased its stake in Gilead Sciences by 5.8% in the first quarter. Gilbert & Cook Inc. now owns 5,178 shares of the biopharmaceutical company valued at $308,000 after acquiring 284 additional shares in the last quarter. Hall Private Wealth Advisors increased its stake in Gilead Sciences by 13.1% in the first quarter. Hall Private Wealth Advisors now owns 144,162 shares of the biopharmaceutical company valued at $8,570,000 after acquiring an additional 16,684 shares in the last quarter. LeJeune Puetz Investment Counsel LLC increased its stake in Gilead Sciences by 1.7% in the first quarter. LeJeune Puetz Investment Counsel LLC now owns 28,295 shares of the biopharmaceutical company valued at $1,682,000 after acquiring 475 additional shares in the last quarter. Roosevelt Investment Group LLC increased its stake in Gilead Sciences by 22.6% in the first quarter. Roosevelt Investment Group LLC now owns 5,172 shares of the biopharmaceutical company valued at $307,000 after acquiring 955 additional shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc. bought a new position in Gilead Sciences in the first quarter, valued at around $264,000. 80.16% of the shares are held by institutional investors.
Gilead Sciences is trading down 0.3%
NASDAQ:GILD shares opened at $60.80 on Monday. Gilead Sciences, Inc. has a 12-month low of $57.17 and a 12-month high of $74.12. The company has a quick ratio of 1.30, a current ratio of 1.48 and a debt ratio of 1.31. The company’s fifty-day simple moving average is $62.18 and its 200-day simple moving average is $62.57. The company has a market capitalization of $76.26 billion, a price/earnings ratio of 16.98, a PEG ratio of 0.61 and a beta of 0.38.
Gilead Sciences Inc (NASDAQ:GILD – Get Rating) last released its quarterly results on Thursday, April 28. The biopharmaceutical company reported earnings per share (EPS) of $2.12 for the quarter, beating the consensus estimate of $1.77 by $0.35. Gilead Sciences achieved a net margin of 16.43% and a return on equity of 44.98%. The company posted revenue of $6.59 billion for the quarter, versus analyst estimates of $6.28 billion. During the same period of the previous year, the company achieved EPS of $2.08. The company’s revenue increased by 2.6% compared to the same quarter last year. As a group, research analysts expect Gilead Sciences, Inc. to post EPS of 6.59 for the current fiscal year.
Gilead Sciences announces dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 29. Shareholders of record on Wednesday, June 15 received a dividend of $0.73. The ex-dividend date was Tuesday, June 14. This represents an annualized dividend of $2.92 and a yield of 4.80%. Gilead Sciences’ payout ratio is currently 81.56%.
Changes to analyst ratings
A number of stock analysts have published reports on GILD shares. SVB Leerink began covering Gilead Sciences shares in a research note on Monday, May 23. They issued a “market performance” rating and a price target of $68.00 on the stock. Piper Sandler cut her price target on Gilead Sciences shares from $73.00 to $69.00 and set a “neutral” rating on the stock in a Monday, May 16 report. Morgan Stanley raised its price target on Gilead Sciences shares from $63.00 to $65.00 and gave the stock an “equal weight” rating in a Friday, July 15 report. Royal Bank of Canada raised its price target on Gilead Sciences shares from $76.00 to $77.00 and gave the stock an “outperform” rating in a Tuesday, April 12 report. Finally, Cantor Fitzgerald assumed coverage of Gilead Sciences shares in a report on Tuesday, July 12. They issued a “neutral” rating and a target price of $70.00 on the stock. One analyst rated the stock with a sell rating, nine gave the stock a hold rating, four gave the stock a buy rating, and one gave the stock a strong buy rating. According to MarketBeat, Gilead Sciences currently has an average rating of “Hold” and an average target price of $72.07.
Gilead Sciences profile
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Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops and markets drugs in areas of unmet medical need in the United States, Europe and globally. The Company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy and Viread for the treatment of liver disease.
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