Burney Co. Has $566,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Burney Co. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 75.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,247 shares of the biopharmaceutical company’s stock after selling 24,850 shares during the period. Burney Co.’s holdings in Gilead Sciences were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in Gilead Sciences during the 2nd quarter worth about $25,328,000. Charles Schwab Investment Management Inc. lifted its position in Gilead Sciences by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after buying an additional 87,482 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after buying an additional 60,697 shares in the last quarter. ARGA Investment Management LP lifted its position in Gilead Sciences by 6.2% during the 4th quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after buying an additional 37,069 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Gilead Sciences during the 1st quarter worth about $462,000. 83.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GILD shares. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Monday, July 8th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $71.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.94.

Gilead Sciences Stock Performance

Shares of GILD traded up $0.78 during mid-day trading on Thursday, hitting $79.34. 3,330,344 shares of the company’s stock were exchanged, compared to its average volume of 7,167,554. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The stock’s 50-day simple moving average is $72.40 and its 200-day simple moving average is $70.20. The firm has a market cap of $98.85 billion, a price-to-earnings ratio of 219.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.88%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred 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 in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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.