Gilead Sciences, Inc. (NASDAQ:GILD) Position Boosted by Carret Asset Management LLC

Carret Asset Management LLC raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,043 shares of the biopharmaceutical company’s stock after acquiring an additional 700 shares during the quarter. Carret Asset Management LLC’s holdings in Gilead Sciences were worth $516,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tompkins Financial Corp grew its stake in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Sachetta LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $33,000. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of several recent research reports. TD Cowen lowered their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Morgan Stanley reduced their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Maxim Group reduced their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Stock Down 2.6 %

Shares of GILD stock opened at $66.59 on Thursday. The stock has a 50 day moving average of $66.04 and a 200-day moving average of $72.33. 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 firm has a market cap 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. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $0.77 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend 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.