Balboa Wealth Partners Sells 267 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Balboa Wealth Partners decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,580 shares of the biopharmaceutical company’s stock after selling 267 shares during the quarter. Balboa Wealth Partners’ holdings in Gilead Sciences were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altfest L J & Co. Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $210,000. Federated Hermes Inc. grew its holdings in Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Gilead Sciences by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after buying an additional 87,482 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Gilead Sciences during the fourth quarter worth $74,000. Finally, ARGA Investment Management LP grew its holdings in Gilead Sciences by 6.2% during the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after buying an additional 37,069 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the 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 sale, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GILD. Cantor Fitzgerald decreased their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Maxim Group decreased their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target for the company in a report on Wednesday, April 24th. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Finally, Morgan Stanley reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.69.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $1.08 during trading on Thursday, reaching $66.72. 1,747,195 shares of the stock traded hands, compared to its average volume of 7,212,550. Gilead Sciences, Inc. has a 52-week low of $64.33 and a 52-week 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 company has a 50-day moving average of $68.77 and a 200-day moving average of $74.70. The stock has a market capitalization of $83.12 billion, a P/E ratio of 188.33, a price-to-earnings-growth ratio of 1.35 and a beta of 0.22.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 EPS. Analysts forecast that Gilead Sciences, Inc. will post 3.74 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.62%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

About Gilead Sciences

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.