Gilead Sciences, Inc. (NASDAQ:GILD) Stake Trimmed by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,705 shares of the biopharmaceutical company’s stock after selling 250 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Gilead Sciences were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. purchased a new position in Gilead Sciences during the 2nd quarter valued at about $25,000. Tompkins Financial Corp grew its stake in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $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 about $26,000. Fortitude Family Office LLC purchased a new position in Gilead Sciences during the 4th quarter valued at about $29,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Gilead Sciences during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now directly owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GILD shares. Truist Financial cut 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 lowered their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. StockNews.com cut Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a research note on Friday. Finally, Cantor Fitzgerald lowered their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and an average target price of $84.71.

Gilead Sciences Stock Up 0.9 %

GILD opened at $66.76 on Friday. The business has a 50 day moving average price of $71.96 and a 200 day moving average price of $76.56. Gilead Sciences, Inc. has a twelve month low of $65.90 and a twelve month high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a market cap of $83.12 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the firm posted $1.67 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts forecast that Gilead Sciences, Inc. will post 6.55 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.77 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s payout ratio is 68.44%.

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.