Beech Hill Advisors Inc. Purchases 585 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Beech Hill Advisors Inc. grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,047 shares of the biopharmaceutical company’s stock after acquiring an additional 585 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Gilead Sciences were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its stake in shares of Gilead Sciences by 75.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,289 shares of the biopharmaceutical company’s stock worth $321,000 after buying an additional 1,842 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Gilead Sciences by 70.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,084 shares of the biopharmaceutical company’s stock worth $3,528,000 after acquiring an additional 19,436 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Gilead Sciences by 7.3% during the third quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 198 shares during the last quarter. Operose Advisors LLC raised its position in Gilead Sciences by 124.0% during the third quarter. Operose Advisors LLC now owns 2,435 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 1,348 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Gilead Sciences by 17.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 220,849 shares of the biopharmaceutical company’s stock valued at $16,550,000 after purchasing an additional 32,790 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now directly 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 available at this hyperlink. 0.29% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $69.61 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average price is $65.84 and its 200-day moving average price is $72.77. The firm has a market cap of $86.72 billion, a P/E ratio of 193.36, a P/E/G ratio of 3.01 and a beta of 0.20. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted 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 net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter last year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GILD shares. Wells Fargo & Company cut their target price on 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. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Maxim Group cut their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, TD Cowen decreased their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Twelve equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.47.

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.