Investors Research Corp Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Investors Research Corp reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,536 shares of the biopharmaceutical company’s stock after selling 2,216 shares during the period. Investors Research Corp’s holdings in Gilead Sciences were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB boosted its holdings in shares of Gilead Sciences by 10.2% during the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock valued at $171,672,000 after acquiring an additional 189,622 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in Gilead Sciences by 13.9% in the third quarter. Verdence Capital Advisors LLC now owns 26,699 shares of the biopharmaceutical company’s stock worth $2,238,000 after purchasing an additional 3,261 shares during the last quarter. Lindbrook Capital LLC grew its position in Gilead Sciences by 10.1% in the 3rd quarter. Lindbrook Capital LLC now owns 4,182 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 382 shares during the period. Sigma Planning Corp lifted its holdings in shares of Gilead Sciences by 1.6% during the 3rd quarter. Sigma Planning Corp now owns 44,594 shares of the biopharmaceutical company’s stock valued at $3,739,000 after buying an additional 693 shares during the period. Finally, Alan B Lancz & Associates Inc. boosted its stake in shares of Gilead Sciences by 4.7% in the 3rd quarter. Alan B Lancz & Associates Inc. now owns 11,090 shares of the biopharmaceutical company’s stock worth $930,000 after buying an additional 500 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $117.41 on Monday. The company has a market capitalization of $146.22 billion, a PE ratio of 317.32, a P/E/G ratio of 0.71 and a beta of 0.21. The company has a 50-day simple moving average of $99.61 and a two-hundred day simple moving average of $91.62. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $118.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.79 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 293,356 shares of company stock valued at $29,166,240 over the last ninety days. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GILD. Bank of America increased their target price on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Wolfe Research initiated coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. The Goldman Sachs Group upped their price target on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.24.

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.