D.A. Davidson & CO. Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by Defense World Staff on Jul 10th, 2023

Gilead Sciences logo D.A. Davidson & CO. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,614 shares of the biopharmaceutical company’s stock after selling 5,767 shares during the quarter. D.A. Davidson & CO.’s holdings in Gilead Sciences were worth $7,427,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its position in Gilead Sciences by 15.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,246 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 560 shares during the last quarter. Legacy Bridge LLC bought a new position in Gilead Sciences during the fourth quarter valued at $30,000. Heritage Wealth Management LLC increased its position in Gilead Sciences by 54.6% during the fourth quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in Gilead Sciences during the fourth quarter valued at $33,000. Finally, SJS Investment Consulting Inc. increased its position in Gilead Sciences by 187.9% during the first quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Gilead Sciences in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. BMO Capital Markets raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Tuesday, May 16th. Finally, Morgan Stanley boosted their target price on shares of Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 12th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 1,485 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $76.90, for a total value of $114,196.50. Following the transaction, the insider now owns 29,402 shares in the company, valued at approximately $2,261,013.80. The sale was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

GILD opened at $74.42 on Monday. Gilead Sciences, Inc. has a 52-week low of $59.27 and a 52-week high of $89.74. The company has a quick ratio of 1.13, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. The company has a market cap of $92.83 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 0.86 and a beta of 0.38. The firm’s 50-day moving average price is $77.83 and its 200-day moving average price is $81.36.

Gilead Sciences (NASDAQ:GILD – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.26). Gilead Sciences had a net margin of 20.65% and a return on equity of 39.35%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the company earned $2.12 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 6.73 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Thursday, June 15th were issued a $0.75 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $3.00 annualized dividend and a yield of 4.03%. Gilead Sciences’s dividend payout ratio (DPR) is presently 67.72%.

About Gilead Sciences

(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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.