Gilead Sciences (NASDAQ:GILD) Stock Price Down 2%

Gilead Sciences, Inc. (NASDAQ:GILD) shares fell 2% during trading on Wednesday . The stock traded as low as $66.95 and last traded at $67.01. 895,695 shares were traded during mid-day trading, a decline of 88% from the average session volume of 7,559,873 shares. The stock had previously closed at $68.40.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. Maxim Group lowered their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. HSBC raised 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, April 24th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $74.00 target price on shares of Gilead Sciences in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Trading Down 2.6 %

The stock has a market capitalization of $82.96 billion, a P/E ratio of 186.14, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18. The stock’s fifty day moving average price is $66.04 and its two-hundred day moving average price is $72.33. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

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. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

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

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tompkins Financial Corp increased its stake in shares of Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Gilead Sciences during the fourth quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Sachetta LLC acquired a new position in Gilead Sciences during the fourth quarter worth $30,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences in the first quarter valued at $29,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

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.