New England Research & Management Inc. Has $1.23 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

New England Research & Management Inc. boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 204.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,825 shares of the biopharmaceutical company’s stock after purchasing an additional 11,300 shares during the period. New England Research & Management Inc.’s holdings in Gilead Sciences were worth $1,232,000 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. Tompkins Financial Corp increased its stake in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares during the period. Private Wealth Management Group LLC bought a new position in shares of Gilead Sciences in the 4th quarter worth $29,000. Fortitude Family Office LLC bought a new position in shares of Gilead Sciences in the 4th quarter worth $29,000. Sachetta LLC bought a new position in shares of Gilead Sciences in the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. bought a new position in Gilead Sciences during the fourth quarter worth about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 0.3 %

Shares of GILD stock opened at $68.61 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. The stock has a market cap of $85.48 billion, a P/E ratio of 190.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.20. The stock has a 50 day simple moving average of $65.98 and a 200 day simple moving average of $72.64. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

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

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research reports. TD Cowen cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. UBS Group lowered their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Finally, Morgan Stanley lowered their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Hold” and an average target price of $83.47.

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.