Gilead Sciences, Inc. (NASDAQ:GILD) Stake Raised by Exchange Capital Management Inc.

Exchange Capital Management Inc. boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,440 shares of the biopharmaceutical company’s stock after acquiring an additional 350 shares during the quarter. Exchange Capital Management Inc.’s holdings in Gilead Sciences were worth $2,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tompkins Financial Corp raised 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 buying an additional 241 shares during the period. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Sachetta LLC acquired a new stake in Gilead Sciences during the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth about $33,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research note on Wednesday, April 24th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. TD Cowen lowered their target price 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. Finally, Morgan Stanley lowered 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. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.47.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

GILD stock traded down $0.53 during midday trading on Tuesday, hitting $68.11. 2,010,013 shares of the company traded hands, compared to its average volume of 7,590,254. 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 business has a 50 day simple moving average of $65.98 and a 200-day simple moving average of $72.51. The stock has a market capitalization of $84.85 billion, a price-to-earnings ratio of 190.67, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the business earned $1.37 earnings per share. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.52%. Gilead Sciences’s dividend payout ratio is 855.56%.

About Gilead Sciences

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.