New England Research & Management Inc. Acquires 11,300 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

New England Research & Management Inc. increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 204.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,825 shares of the biopharmaceutical company’s stock after acquiring an additional 11,300 shares during the period. New England Research & Management Inc.’s holdings in Gilead Sciences were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Tompkins Financial Corp lifted its stake 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 in the last quarter. Fortitude Family Office LLC purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $29,000. Sachetta LLC purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $33,000. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GILD shares. Wells Fargo & Company decreased their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 price target on shares of Gilead Sciences in a research report on Friday, June 14th. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, April 24th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve 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, the stock currently has a consensus rating of “Hold” and an average target price of $83.47.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $68.61 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a market cap of $85.48 billion, a P/E ratio of 190.58, a P/E/G ratio of 2.93 and a beta of 0.20. The firm’s fifty day moving average is $65.98 and its two-hundred day moving average is $72.64. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results 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. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.