Daymark Wealth Partners LLC Has $2.13 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Daymark Wealth Partners LLC reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 17.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,105 shares of the biopharmaceutical company’s stock after selling 6,518 shares during the period. Daymark Wealth Partners LLC’s holdings in Gilead Sciences were worth $2,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $25,328,000. Eagle Asset Management Inc. lifted its stake in Gilead Sciences by 23.6% in the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after buying an additional 60,697 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $462,000. Brookstone Capital Management increased its stake in shares of Gilead Sciences by 751.1% in the 1st quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after acquiring an additional 112,305 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Gilead Sciences by 10.7% in the 4th quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock valued at $26,733,000 after acquiring an additional 31,849 shares during the period. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Merdad Parsey sold 2,000 shares of the firm’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 directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,002,940 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Truist Financial increased their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Gilead Sciences Stock Up 1.0 %

Gilead Sciences stock opened at $83.04 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a fifty day simple moving average of $77.64 and a 200 day simple moving average of $71.45. The company has a market cap of $103.46 billion, a P/E ratio of 230.67, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Research analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 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.