Fernwood Investment Management LLC Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Fernwood Investment Management LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,017 shares of the biopharmaceutical company’s stock after selling 1,175 shares during the quarter. Fernwood Investment Management LLC’s holdings in Gilead Sciences were worth $1,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nilsine Partners LLC lifted its holdings in shares of Gilead Sciences by 1.1% in the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock worth $891,000 after buying an additional 127 shares in the last quarter. Etesian Wealth Advisors Inc. raised its stake in Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after purchasing an additional 128 shares in the last quarter. Financial Counselors Inc. raised its stake in Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after purchasing an additional 128 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 130 shares in the last quarter. Finally, Institutional & Family Asset Management LLC raised its stake in Gilead Sciences by 10.3% in the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 140 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Mizuho decreased their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Wells Fargo & Company decreased their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Morgan Stanley decreased their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Hold” and a consensus target price of $83.60.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded up $0.52 during trading hours on Monday, reaching $65.94. 7,838,371 shares of the stock traded hands, compared to its average volume of 7,481,456. The company has a 50 day moving average price of $71.28 and a 200 day moving average price of $76.25. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 184.72, a P/E/G ratio of 1.29 and a beta of 0.19. Gilead Sciences, Inc. has a one year low of $64.63 and a one year high of $87.86. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (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 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 business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. On average, equities research analysts expect that Gilead Sciences, Inc. will post 3.82 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.67%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.