GAMMA Investing LLC Takes $525,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

GAMMA Investing LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,709 shares of the biopharmaceutical company’s stock, valued at approximately $525,000.

Several other hedge funds have also recently bought and sold shares of GILD. Tompkins Financial Corp increased its holdings in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Gilead Sciences during the 3rd quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in Gilead Sciences during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. bought a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $33,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $40,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

GILD traded down $0.15 on Wednesday, hitting $66.88. 2,967,901 shares of the stock were exchanged, compared to its average volume of 7,245,742. Gilead Sciences, Inc. has a 12 month low of $65.90 and a 12 month high of $87.86. The business has a 50-day moving average of $71.68 and a two-hundred day moving average of $76.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market capitalization of $83.27 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.96 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 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. Sell-side analysts forecast that Gilead Sciences, Inc. will post 6.28 EPS for the current fiscal 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 given a dividend of $0.77 per share. 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 dividend payout ratio (DPR) is currently 68.44%.

Analyst Ratings Changes

Several research firms have recently weighed in on GILD. Royal Bank of Canada lowered their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 14th. Barclays dropped their price objective on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Cantor Fitzgerald dropped their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Finally, 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. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.57.

Gilead Sciences 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.