Edgestream Partners L.P. Sells 14,668 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Edgestream Partners L.P. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,249 shares of the biopharmaceutical company's stock after selling 14,668 shares during the quarter. Edgestream Partners L.P.'s holdings in Gilead Sciences were worth $854,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GILD. Swedbank AB lifted its stake in shares of Gilead Sciences by 10.2% in the third quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company's stock worth $171,672,000 after acquiring an additional 189,622 shares during the period. Legacy Capital Wealth Partners LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at about $245,000. Ashton Thomas Securities LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $102,000. Catalytic Wealth RIA LLC acquired a new stake in Gilead Sciences during the third quarter worth approximately $201,000. Finally, Addison Advisors LLC increased its holdings in Gilead Sciences by 42.8% in the third quarter. Addison Advisors LLC now owns 677 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 2.4 %

GILD stock opened at $114.43 on Wednesday. The stock has a fifty day moving average of $100.56 and a 200-day moving average of $92.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The company has a market capitalization of $142.50 billion, a price-to-earnings ratio of 309.27, a PEG ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences's payout ratio is currently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 8,500 shares of Gilead Sciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the transaction, the chief financial officer now owns 132,373 shares of the company's stock, valued at $12,173,021.08. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 293,356 shares of company stock valued at $29,166,240 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research analyst reports. UBS Group increased their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Citigroup started coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a "buy" rating and a $125.00 target price for the company. Finally, DZ Bank raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.52.

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.

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