Arnhold LLC Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Arnhold LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,952 shares of the biopharmaceutical company’s stock after selling 279 shares during the period. Arnhold LLC’s holdings in Gilead Sciences were worth $1,859,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tompkins Financial Corp boosted its stake in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares in the last quarter. OFI Invest Asset Management purchased a new position in Gilead Sciences during the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Gilead Sciences in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at $33,000. Finally, Financial Connections Group Inc. purchased a new stake in Gilead Sciences during the fourth quarter valued at $40,000. Hedge funds and other 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 Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GILD has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday. Royal Bank of Canada decreased their price target on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating on the stock in a report on Friday. Wells Fargo & Company cut their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday. Finally, TD Cowen reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.60.

Gilead Sciences Stock Down 1.1 %

NASDAQ:GILD traded down $0.74 during trading hours on Tuesday, reaching $65.20. The company’s stock had a trading volume of 7,433,077 shares, compared to its average volume of 7,480,851. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. The company has a market capitalization of $81.18 billion, a P/E ratio of 181.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19. The stock has a 50 day moving average price of $71.03 and a two-hundred day moving average price of $76.08. Gilead Sciences, Inc. has a 12 month low of $64.63 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the business earned $1.37 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Gilead Sciences, Inc. will post 3.82 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced 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 of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.72%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Gilead Sciences Company Profile

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.