Cary Street Partners Investment Advisory LLC Raises Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cary Street Partners Investment Advisory LLC boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 47.2% during the fourth quarter, Holdings Channel reports. The firm owned 6,313 shares of the biopharmaceutical company’s stock after buying an additional 2,024 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Gilead Sciences were worth $511,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its holdings in Gilead Sciences by 179.0% in the 3rd 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 in the last quarter. abrdn plc boosted its position in shares of Gilead Sciences by 89.0% in the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock worth $304,930,000 after acquiring an additional 1,772,887 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $133,584,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Gilead Sciences during the fourth quarter worth approximately $63,971,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Gilead Sciences by 18.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,534,839 shares of the biopharmaceutical company’s stock valued at $339,841,000 after purchasing an additional 702,342 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 sale, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

GILD has been the subject of a number of research analyst reports. Maxim Group dropped their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays cut their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. UBS Group lowered their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Wednesday, April 24th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $83.69.

Check Out Our Latest Research Report on Gilead Sciences

Gilead Sciences Stock Performance

Shares of GILD stock opened at $67.65 on Wednesday. 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 moving average of $69.72 and a two-hundred day moving average of $75.25. The company has a market cap of $84.28 billion, a P/E ratio of 187.92, a PEG ratio of 1.37 and a beta of 0.22. Gilead Sciences, Inc. has a 52 week low of $64.33 and a 52 week high of $87.86.

Gilead Sciences (NASDAQ:GILDGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion during 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 firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.55%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

About Gilead Sciences

(Free Report)

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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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