Financial Perspectives Inc Has $590,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Financial Perspectives Inc lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,053 shares of the biopharmaceutical company’s stock after buying an additional 644 shares during the period. Financial Perspectives Inc’s holdings in Gilead Sciences were worth $590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Gilead Sciences during the third quarter valued at about $896,000. Truist Financial Corp boosted its stake in Gilead Sciences by 1.4% during the 3rd quarter. Truist Financial Corp now owns 573,445 shares of the biopharmaceutical company’s stock valued at $42,974,000 after purchasing an additional 7,890 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in Gilead Sciences by 61.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 14,899 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 5,674 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Gilead Sciences by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 1,703,783 shares of the biopharmaceutical company’s stock worth $127,675,000 after purchasing an additional 115,189 shares during the last quarter. Finally, EHP Funds Inc. lifted its holdings in shares of Gilead Sciences by 20.6% in the third quarter. EHP Funds Inc. now owns 14,900 shares of the biopharmaceutical company’s stock valued at $1,117,000 after purchasing an additional 2,550 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were 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 $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of a number of analyst reports. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday, April 24th. Barclays reduced their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Morgan Stanley dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Royal Bank of Canada restated a “sector perform” rating and set a $74.00 price objective on shares of Gilead Sciences in a report on Monday. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.47.

Gilead Sciences Trading Down 2.6 %

GILD stock traded down $1.81 during mid-day trading on Thursday, reaching $66.59. The company had a trading volume of 3,995,673 shares, compared to its average volume of 8,998,495. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a market capitalization of $82.96 billion, a PE ratio of 184.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The firm has a 50 day moving average of $66.03 and a 200 day moving average of $72.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping 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 return on equity of 24.34% and a net margin of 1.76%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company 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. The ex-dividend date was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.63%. Gilead Sciences’s 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.