Edgestream Partners L.P. Decreases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Edgestream Partners L.P. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 76.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,299 shares of the biopharmaceutical company’s stock after selling 40,674 shares during the quarter. Edgestream Partners L.P.’s holdings in Gilead Sciences were worth $844,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences during the first quarter worth $29,000. Frank Rimerman Advisors LLC purchased a new position in Gilead Sciences in the fourth quarter valued at $36,000. Fortis Group Advisors LLC raised its stake in Gilead Sciences by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares in the last quarter. Finally, Pingora Partners LLC purchased a new stake in Gilead Sciences during the 4th quarter worth about $41,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,002,940 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

GILD opened at $83.94 on Friday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The business has a 50 day moving average price of $76.95 and a two-hundred day moving average price of $71.25. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a market cap of $104.58 billion, a PE ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. Truist Financial increased their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 4th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $82.06.

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.