Brookmont Capital Management Grows Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Brookmont Capital Management grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,684 shares of the biopharmaceutical company’s stock after buying an additional 1,005 shares during the quarter. Gilead Sciences accounts for 1.8% of Brookmont Capital Management’s portfolio, making the stock its 20th largest position. Brookmont Capital Management’s holdings in Gilead Sciences were worth $3,420,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Altfest L J & Co. Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at $210,000. Federated Hermes Inc. boosted its stake in shares of Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after purchasing an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Gilead Sciences by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after acquiring an additional 87,482 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Gilead Sciences during the 4th quarter valued at $74,000. Finally, Eagle Asset Management Inc. boosted its stake in Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after acquiring an additional 60,697 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated 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 approximately $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $0.22 during midday trading on Friday, hitting $68.61. The company had a trading volume of 9,588,641 shares, compared to its average volume of 7,647,713. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The business’s 50 day simple moving average is $65.98 and its two-hundred day simple moving average is $72.64. The stock has a market cap of $85.48 billion, a PE ratio of 190.58, a P/E/G ratio of 2.95 and a beta of 0.20.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.49%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 price objective on shares of Gilead Sciences in a research note on Friday, June 14th. Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. TD Cowen reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. UBS Group dropped their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday, April 24th. Twelve equities research 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, Gilead Sciences currently has an average rating of “Hold” and a consensus price target of $83.47.

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.