Premier Path Wealth Partners LLC Decreases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Premier Path Wealth Partners LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 20.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,927 shares of the biopharmaceutical company’s stock after selling 995 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Gilead Sciences were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GILD. Tompkins Financial Corp raised its holdings in shares of Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares during the period. Private Wealth Management Group LLC purchased a new position in Gilead Sciences in the 4th quarter worth $29,000. Fortitude Family Office LLC purchased a new position in Gilead Sciences in the 4th quarter worth $29,000. Sachetta LLC purchased a new position in shares of Gilead Sciences during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences during the 4th quarter valued at about $33,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.8 %

Shares of NASDAQ GILD traded up $0.51 during trading on Wednesday, hitting $67.80. 6,223,211 shares of the company traded hands, compared to its average volume of 7,269,141. Gilead Sciences, Inc. has a 1 year low of $64.33 and a 1 year high of $87.86. The company has a 50-day moving average price of $68.77 and a 200-day moving average price of $74.70. The firm has a market capitalization of $84.47 billion, a P/E ratio of 188.33, a P/E/G ratio of 1.37 and a beta of 0.22. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the previous year, the company earned $1.37 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.54%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GILD shares. Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Maxim Group decreased their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays decreased their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Finally, HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.69.

Gilead Sciences 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.