Convergence Investment Partners LLC Lowers Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Convergence Investment Partners LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,689 shares of the biopharmaceutical company’s stock after selling 3,495 shares during the period. Gilead Sciences makes up about 1.9% of Convergence Investment Partners LLC’s holdings, making the stock its 7th biggest position. Convergence Investment Partners LLC’s holdings in Gilead Sciences were worth $3,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Paradigm Financial Partners LLC raised its position in shares of Gilead Sciences by 2.2% in the fourth quarter. Paradigm Financial Partners LLC now owns 24,771 shares of the biopharmaceutical company’s stock valued at $2,007,000 after purchasing an additional 533 shares during the period. PGGM Investments raised its position in shares of Gilead Sciences by 10.7% in the fourth quarter. PGGM Investments now owns 87,067 shares of the biopharmaceutical company’s stock valued at $7,053,000 after purchasing an additional 8,382 shares during the period. Alliance Wealth Advisors LLC UT raised its position in shares of Gilead Sciences by 14.0% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 23,992 shares of the biopharmaceutical company’s stock valued at $1,944,000 after purchasing an additional 2,938 shares during the period. Private Wealth Partners LLC grew its stake in Gilead Sciences by 14.9% during the fourth quarter. Private Wealth Partners LLC now owns 44,891 shares of the biopharmaceutical company’s stock valued at $3,637,000 after acquiring an additional 5,827 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in Gilead Sciences by 49.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 5,164 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GILD. Morgan Stanley decreased their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday. TD Cowen decreased their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald decreased 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. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Friday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.87.

Gilead Sciences Trading Up 0.2 %

GILD traded up $0.15 during trading on Friday, hitting $65.42. 12,382,425 shares of the stock traded hands, compared to its average volume of 6,443,315. The firm has a 50-day moving average of $71.28 and a 200 day moving average of $76.25. Gilead Sciences, Inc. has a 12-month low of $64.63 and a 12-month high of $87.86. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a price-to-earnings-growth ratio of 1.17 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the company posted $1.37 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences, Inc. will post 3.82 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Gilead Sciences’s dividend payout ratio is 855.56%.

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.