50,839 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Bought by Synergy Asset Management LLC

Synergy Asset Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,839 shares of the biopharmaceutical company’s stock, valued at approximately $3,724,000.

Other hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Gilead Sciences in the third quarter worth $896,000. Truist Financial Corp increased its stake in Gilead Sciences by 1.4% during the 3rd quarter. Truist Financial Corp now owns 573,445 shares of the biopharmaceutical company’s stock valued at $42,974,000 after purchasing an additional 7,890 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Gilead Sciences by 12.2% in the third quarter. Glenmede Trust Co. NA now owns 364,980 shares of the biopharmaceutical company’s stock worth $27,352,000 after buying an additional 39,619 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Gilead Sciences by 61.5% in the third quarter. Axxcess Wealth Management LLC now owns 14,899 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 5,674 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Gilead Sciences by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 1,703,783 shares of the biopharmaceutical company’s stock valued at $127,675,000 after buying an additional 115,189 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. TD Cowen cut their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 26th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 price objective on shares of Gilead Sciences in a research report on Monday. Finally, Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Hold” and a consensus target price of $83.47.

Gilead Sciences Trading Down 0.8 %

Shares of NASDAQ:GILD traded down $0.55 during trading on Tuesday, reaching $68.09. 1,834,526 shares of the company were exchanged, compared to its average volume of 7,588,861. The business’s fifty day simple moving average is $65.98 and its 200-day simple moving average is $72.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The firm has a market capitalization of $84.83 billion, a PE ratio of 190.67, a P/E/G ratio of 2.92 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

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.