Daymark Wealth Partners LLC Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Daymark Wealth Partners LLC reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,035 shares of the biopharmaceutical company’s stock after selling 1,855 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Gilead Sciences were worth $3,253,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GILD. FMR LLC lifted its holdings in shares of Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after buying an additional 7,157,113 shares during the period. Wellington Management Group LLP lifted its stake in Gilead Sciences by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after acquiring an additional 1,058,331 shares during the period. Geode Capital Management LLC lifted its stake in Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after acquiring an additional 749,047 shares during the period. Norges Bank purchased a new stake in Gilead Sciences in the fourth quarter worth about $1,789,254,000. Finally, Northern Trust Corp lifted its stake in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the transaction, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total transaction of $249,550.00. Following the transaction, the chief financial officer now directly owns 165,674 shares of the company’s stock, valued at approximately $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $4,630,310 over the last 90 days. Insiders own 0.27% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $113.00 on Tuesday. The firm has a market capitalization of $140.56 billion, a price-to-earnings ratio of 305.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The business has a fifty day moving average of $105.41 and a 200 day moving average of $101.80. Gilead Sciences, Inc. has a 1 year low of $62.69 and a 1 year high of $119.96.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period last year, the business posted ($1.32) earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.80%. Gilead Sciences’s dividend payout ratio (DPR) is presently 66.53%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. BMO Capital Markets upped their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer decreased their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Piper Sandler upped their price objective on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada increased their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.55.

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.