Edgestream Partners L.P. Has $3.88 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Edgestream Partners L.P. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 447.6% during the first quarter, Holdings Channel.com reports. The fund owned 52,973 shares of the biopharmaceutical company’s stock after buying an additional 43,300 shares during the period. Edgestream Partners L.P.’s holdings in Gilead Sciences were worth $3,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $29,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the 1st quarter valued at about $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $33,000. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock traded down $0.15 during trading on Monday, hitting $72.41. The company had a trading volume of 6,420,289 shares, compared to its average volume of 7,463,010. The stock’s 50-day moving average price is $67.13 and its 200 day moving average price is $71.34. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. 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 firm has a market capitalization of $90.21 billion, a P/E ratio of 201.25, a price-to-earnings-growth ratio of 3.11 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share 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 firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the company posted $1.37 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Gilead Sciences, Inc. will post 3.71 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GILD. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Barclays decreased their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald cut their price target on Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $74.00 price objective on shares of Gilead Sciences in a research report on Monday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $82.88.

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.