Carret Asset Management LLC Purchases 700 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Carret Asset Management LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,043 shares of the biopharmaceutical company’s stock after buying an additional 700 shares during the quarter. Carret Asset Management LLC’s holdings in Gilead Sciences were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GILD. Norges Bank bought a new position in shares of Gilead Sciences during the fourth quarter worth about $1,301,624,000. The Manufacturers Life Insurance Company grew its stake in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares in the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 14.4% in the fourth 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 in the last quarter. abrdn plc grew its stake in Gilead Sciences by 89.0% in the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after purchasing an additional 1,772,887 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Gilead Sciences by 3.0% in the fourth 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 in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group decreased their price target 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. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a research note on Friday, April 19th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Finally, HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a research note on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Hold” and a consensus price target of $83.47.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated 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 owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Gilead Sciences Stock Down 2.6 %

GILD opened at $66.59 on Thursday. The stock has a fifty day moving average of $66.04 and a 200-day moving average of $72.33. The company has a market capitalization of $82.96 billion, a P/E ratio of 184.97, a P/E/G ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week 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.

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

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $0.77 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.63%. Gilead Sciences’s payout ratio is presently 855.56%.

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.