Daymark Wealth Partners LLC Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Daymark Wealth Partners LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,890 shares of the biopharmaceutical company’s stock after selling 211 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Gilead Sciences were worth $2,853,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Gilead Sciences in the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its position in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences during the fourth quarter valued at $29,000. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences during the second quarter valued at $33,000. Finally, Quarry LP purchased a new position in shares of Gilead Sciences in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.1 %

NASDAQ:GILD opened at $93.04 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a 50-day simple moving average of $91.62 and a 200-day simple moving average of $84.57. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The firm has a market cap of $115.95 billion, a P/E ratio of 1,033.78, a P/E/G ratio of 1.29 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. Equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 456,234 shares of company stock worth $42,130,461 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $84.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Oppenheimer boosted their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Bank of America reiterated a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.96.

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.