Boston Financial Mangement LLC Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Boston Financial Mangement LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,655 shares of the biopharmaceutical company’s stock after selling 1,142 shares during the quarter. Boston Financial Mangement LLC’s holdings in Gilead Sciences were worth $3,201,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Institute for Wealth Management LLC. grew its holdings in shares of Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 142 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of Gilead Sciences by 3.5% during the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 147 shares during the last quarter. Rathbones Group PLC boosted its holdings in Gilead Sciences by 3.7% in the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 150 shares during the last quarter. MCF Advisors LLC boosted its holdings in Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 152 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Gilead Sciences by 0.6% in the second quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 152 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GILD has been the topic of several recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Royal Bank of Canada upped their price target on shares of Gilead Sciences from $71.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. BMO Capital Markets upped their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, Truist Financial upped their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.94.

Gilead Sciences Price Performance

Shares of GILD traded down $0.45 during mid-day trading on Friday, hitting $79.00. 6,204,884 shares of the company were exchanged, compared to its average volume of 7,175,005. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year 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. The company has a 50 day moving average of $72.93 and a 200-day moving average of $70.32. The stock has a market cap of $98.42 billion, a price-to-earnings ratio of 219.44, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.90%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated 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 owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the 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 in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated 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 sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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.