Tennessee Valley Asset Management Partners Makes New $49,000 Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Tennessee Valley Asset Management Partners bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 611 shares of the biopharmaceutical company’s stock, valued at approximately $49,000.

Several other hedge funds have also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of Gilead Sciences by 0.9% in the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after buying an additional 158,794 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Gilead Sciences by 3.5% in the third quarter. Northern Trust Corp now owns 14,922,488 shares of the biopharmaceutical company’s stock worth $1,118,291,000 after buying an additional 504,475 shares in the last quarter. Pacer Advisors Inc. raised its stake in Gilead Sciences by 10.8% during the fourth quarter. Pacer Advisors Inc. now owns 5,046,652 shares of the biopharmaceutical company’s stock valued at $408,829,000 after purchasing an additional 493,920 shares in the last quarter. AQR Capital Management LLC grew its position in Gilead Sciences by 12.5% in the third quarter. AQR Capital Management LLC now owns 4,773,688 shares of the biopharmaceutical company’s stock worth $357,740,000 after acquiring an additional 531,314 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Gilead Sciences by 179.0% during the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GILD shares. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. Barclays decreased their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company decreased their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Finally, Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.71.

Gilead Sciences Price Performance

GILD opened at $67.03 on Wednesday. Gilead Sciences, Inc. has a 12-month low of $65.90 and a 12-month high of $87.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The business’s fifty day simple moving average is $71.68 and its 200-day simple moving average is $76.46. The company has a market capitalization of $83.46 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The firm had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period in the previous year, the company posted $1.67 EPS. Gilead Sciences’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.59%. Gilead Sciences’s dividend payout ratio is presently 68.44%.

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.