Ipswich Investment Management Co. Inc. Decreases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Ipswich Investment Management Co. Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,705 shares of the biopharmaceutical company’s stock after selling 250 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Gilead Sciences were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GILD. PCA Investment Advisory Services Inc. acquired a new stake in Gilead Sciences during the second quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $26,000. Tompkins Financial Corp increased its holdings 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 acquiring an additional 241 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $29,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GILD. Mizuho cut their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. UBS Group cut their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. Cantor Fitzgerald cut their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday. Finally, Barclays dropped their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.71.

Gilead Sciences Stock Up 0.9 %

GILD opened at $66.76 on Friday. The firm has a 50 day moving average price of $71.96 and a 200 day moving average price of $76.56. The company has a market cap of $83.12 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19. Gilead Sciences, Inc. has a 1 year low of $65.90 and a 1 year high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 EPS. Sell-side analysts expect that Gilead Sciences, Inc. will post 6.55 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Thursday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio is currently 68.44%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’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 transaction, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

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.