First City Capital Management Inc. Invests $212,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

First City Capital Management Inc. purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,291 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC lifted its stake in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences during the 2nd quarter valued at about $33,000. Finally, Quarry LP bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $43,000. 83.67% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,734 shares of company stock worth $41,902,086 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GILD. The Goldman Sachs Group lifted their price target on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Mizuho increased their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Wolfe Research started coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target on the stock. Finally, Citigroup began coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.43.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.04 during midday trading on Friday, hitting $91.84. The stock had a trading volume of 1,698,665 shares, compared to its average volume of 2,574,528. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $91.76 and a two-hundred day moving average price of $82.22. The company has a market capitalization of $114.46 billion, a PE ratio of 1,020.44, a P/E/G ratio of 2.38 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, equities analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

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.