Harvest Fund Management Co. Ltd Boosts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Harvest Fund Management Co. Ltd boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,950 shares of the biopharmaceutical company’s stock after acquiring an additional 1,145 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Gilead Sciences were worth $887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nilsine Partners LLC grew its stake in Gilead Sciences by 1.1% during the 3rd quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock worth $891,000 after buying an additional 127 shares during the last quarter. Etesian Wealth Advisors Inc. grew its stake in Gilead Sciences by 0.7% during the 4th quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after purchasing an additional 128 shares during the last quarter. Financial Counselors Inc. grew its stake in Gilead Sciences by 1.5% during the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after purchasing an additional 128 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Gilead Sciences by 3.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 130 shares during the last quarter. Finally, Institutional & Family Asset Management LLC grew its stake in Gilead Sciences by 10.3% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GILD shares. Barclays dropped their price target 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. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Wells Fargo & Company reduced their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. UBS Group reduced their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, StockNews.com cut Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and a consensus price target of $84.71.

Gilead Sciences Price Performance

Shares of GILD stock traded up $0.08 during trading hours on Tuesday, reaching $67.03. The company had a trading volume of 5,239,545 shares, compared to its average volume of 7,302,715. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The stock has a fifty day moving average of $71.68 and a 200-day moving average of $76.46. The company has a market capitalization of $83.46 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.92 and a beta of 0.19. Gilead Sciences, Inc. has a 12-month low of $65.90 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (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 analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. Gilead Sciences’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 6.55 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.59%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is presently 68.44%.

Insider Buying and Selling

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

Gilead Sciences Company 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.