Ignite Planners LLC Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Ignite Planners LLC reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,384 shares of the biopharmaceutical company’s stock after selling 1,412 shares during the quarter. Ignite Planners LLC’s holdings in Gilead Sciences were worth $538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in Gilead Sciences by 2.0% in the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock valued at $6,753,350,000 after purchasing an additional 1,642,736 shares during the last quarter. Capital Research Global Investors raised its stake in Gilead Sciences by 3.0% in the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock valued at $4,832,824,000 after purchasing an additional 1,743,418 shares during the last quarter. Wellington Management Group LLP raised its stake in Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the last quarter. Morgan Stanley raised its stake in Gilead Sciences by 0.9% in the 3rd quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock valued at $1,267,207,000 after purchasing an additional 158,794 shares during the last quarter. Finally, Norges Bank acquired a new position in Gilead Sciences in the 4th quarter valued at $1,301,624,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $70.73 on Tuesday. The business has a 50-day moving average of $65.80 and a 200 day moving average of $72.84. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The stock has a market capitalization of $88.12 billion, a price-to-earnings ratio of 196.47, a price-to-earnings-growth ratio of 1.42 and a beta of 0.20. 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 (NASDAQ:GILD) last announced its 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. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the business posted $1.37 EPS. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.76 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

Analysts Set New Price Targets

GILD has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. Barclays cut their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. UBS Group cut their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.47.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% 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.