Portfolio Design Labs LLC Buys Shares of 3,660 Gilead Sciences, Inc. (NASDAQ:GILD)

Portfolio Design Labs LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILDFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,660 shares of the biopharmaceutical company’s stock, valued at approximately $296,000.

Other hedge funds have also added to or reduced their stakes in the company. Tompkins Financial Corp raised 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 buying an additional 241 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at $29,000. Sachetta LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. purchased a new stake in Gilead Sciences during the 4th quarter valued at $33,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

GILD stock traded down $0.57 during mid-day trading on Wednesday, hitting $63.37. The company had a trading volume of 1,098,885 shares, compared to its average volume of 7,163,311. The company has a market capitalization of $78.95 billion, a price-to-earnings ratio of 177.61, a P/E/G ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 12-month low of $63.10 and a 12-month high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $68.11 and a 200 day moving average price of $74.32.

Gilead Sciences (NASDAQ:GILDGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. On average, research analysts anticipate that Gilead Sciences, Inc. will post 3.74 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GILD. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada cut their price objective on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Finally, Morgan Stanley cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.69.

Read Our Latest Stock Analysis on Gilead Sciences

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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