IMS Capital Management Has $205,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

IMS Capital Management cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,223 shares of the biopharmaceutical company’s stock after selling 630 shares during the period. IMS Capital Management’s holdings in Gilead Sciences were worth $205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avestar Capital LLC grew its position in Gilead Sciences by 19.6% in the fourth quarter. Avestar Capital LLC now owns 8,297 shares of the biopharmaceutical company’s stock valued at $766,000 after acquiring an additional 1,362 shares during the period. Hemington Wealth Management grew its holdings in shares of Gilead Sciences by 28.4% in the 4th quarter. Hemington Wealth Management now owns 673 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 149 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Gilead Sciences by 6.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 9,173 shares of the biopharmaceutical company’s stock worth $847,000 after purchasing an additional 561 shares in the last quarter. Certuity LLC lifted its holdings in Gilead Sciences by 44.2% during the 4th quarter. Certuity LLC now owns 8,395 shares of the biopharmaceutical company’s stock valued at $775,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its position in Gilead Sciences by 8.8% in the fourth quarter. Leavell Investment Management Inc. now owns 4,870 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 395 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GILD shares. Bank of America reaffirmed a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Robert W. Baird boosted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $105.96 on Friday. The business has a 50-day moving average of $93.38 and a 200-day moving average of $87.24. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $106.43. The firm has a market capitalization of $132.05 billion, a P/E ratio of 1,177.33, a PEG ratio of 1.25 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 710,500 shares of company stock valued at $67,684,956. Company insiders own 0.16% of the company’s stock.

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.