IMS Capital Management Sells 3,705 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

IMS Capital Management trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 55.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,918 shares of the biopharmaceutical company’s stock after selling 3,705 shares during the quarter. IMS Capital Management’s holdings in Gilead Sciences were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GILD. Manning & Napier Advisors LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter worth approximately $25,328,000. Legal & General Group Plc lifted its position in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. GSA Capital Partners LLP bought a new stake in Gilead Sciences in the 1st quarter valued at $462,000. Brookstone Capital Management raised 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 buying an additional 112,305 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Gilead Sciences by 10.7% during the 4th quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock worth $26,733,000 after acquiring an additional 31,849 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.3 %

NASDAQ:GILD opened at $83.84 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The business’s 50-day simple moving average is $78.28 and its 200-day simple moving average is $71.60. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The stock has a market capitalization of $104.45 billion, a PE ratio of 232.89, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.67%. Gilead Sciences’s payout ratio is presently 855.56%.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. BMO Capital Markets upped their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Truist Financial lifted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Gilead Sciences 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.