Flagship Harbor Advisors LLC Has $511,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by on Mar 24th, 2023

Flagship Harbor Advisors LLC lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 5.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,958 shares of the biopharmaceutical company’s stock after selling 344 shares during the period. Flagship Harbor Advisors LLC’s holdings in Gilead Sciences were worth $511,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers increased its stake in Gilead Sciences by 9.2% during the 1st quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock worth $3,446,000 after acquiring an additional 4,877 shares during the period. Baird Financial Group Inc. increased its stake in Gilead Sciences by 3.9% during the 1st quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock worth $26,660,000 after acquiring an additional 16,643 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Gilead Sciences by 44.3% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after acquiring an additional 2,654 shares during the period. Donaldson Capital Management LLC increased its stake in Gilead Sciences by 12.5% during the 1st quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock worth $343,000 after acquiring an additional 641 shares during the period. Finally, Ergoteles LLC bought a new position in Gilead Sciences during the 1st quarter worth $2,304,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $78.76 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.15 and a debt-to-equity ratio of 1.14. The firm’s fifty day simple moving average is $82.60 and its two-hundred day simple moving average is $78.82. Gilead Sciences, Inc. has a 12 month low of $57.17 and a 12 month high of $89.74. The stock has a market capitalization of $98.22 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 0.94 and a beta of 0.38.

Gilead Sciences (NASDAQ:GILD – Get Rating) last released its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.50 by $0.17. Gilead Sciences had a return on equity of 44.46% and a net margin of 16.83%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that Gilead Sciences, Inc. will post 6.86 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Tuesday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.73. Gilead Sciences’s payout ratio is presently 82.19%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 6,126 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $78.99, for a total value of $483,892.74. Following the completion of the sale, the insider now directly owns 70,130 shares in the company, valued at approximately $5,539,568.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GILD. Piper Sandler raised their price objective on Gilead Sciences from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Cowen raised their price objective on Gilead Sciences from $90.00 to $95.00 in a research note on Friday, February 10th. StockNews.com initiated coverage on Gilead Sciences in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. Morgan Stanley raised their price target on shares of Gilead Sciences from $80.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Mizuho upped their price objective on shares of Gilead Sciences from $88.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $89.40.

Gilead Sciences Profile

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.

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

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