Ridgewood Investments LLC Has $64,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by Defense World Staff on Jul 11th, 2023

Gilead Sciences logo Ridgewood Investments LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 93.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 769 shares of the biopharmaceutical company’s stock after selling 11,532 shares during the period. Ridgewood Investments LLC’s holdings in Gilead Sciences were worth $64,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in GILD. Altshuler Shaham Ltd increased its stake in Gilead Sciences by 7.0% during the fourth quarter. Altshuler Shaham Ltd now owns 1,856 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 121 shares during the period. John G Ullman & Associates Inc. raised its stake in shares of Gilead Sciences by 3.2% in the 4th quarter. John G Ullman & Associates Inc. now owns 3,974 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 124 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Gilead Sciences by 3.6% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 3,581 shares of the biopharmaceutical company’s stock worth $297,000 after acquiring an additional 124 shares during the period. Jacobs & Co. CA boosted its position in shares of Gilead Sciences by 0.5% during the 4th quarter. Jacobs & Co. CA now owns 26,986 shares of the biopharmaceutical company’s stock valued at $2,316,000 after acquiring an additional 127 shares in the last quarter. Finally, Canandaigua National Corp increased its stake in Gilead Sciences by 1.4% in the fourth quarter. Canandaigua National Corp now owns 9,526 shares of the biopharmaceutical company’s stock valued at $818,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GILD. StockNews.com initiated coverage on Gilead Sciences in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. BMO Capital Markets upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $90.00 to $100.00 in a research note on Tuesday, May 16th. Finally, Morgan Stanley upped their price target on 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $75.69 on Tuesday. The company has a market capitalization of $94.41 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.86 and a beta of 0.38. The company has a current ratio of 1.28, a quick ratio of 1.13 and a debt-to-equity ratio of 1.10. Gilead Sciences, Inc. has a 12 month low of $59.27 and a 12 month high of $89.74. The stock’s 50 day moving average is $77.72 and its 200-day moving average is $81.29.

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

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. Gilead Sciences’s payout ratio is 67.72%.

Insider Activity at Gilead Sciences

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 transaction of $114,196.50. Following the sale, the insider now owns 29,402 shares in the company, valued at approximately $2,261,013.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

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, 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.