Roanoke Asset Management Corp NY Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Roanoke Asset Management Corp NY decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,280 shares of the biopharmaceutical company’s stock after selling 291 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Gilead Sciences were worth $3,841,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. increased its position in Gilead Sciences by 12.0% in the first quarter. American Century Companies Inc. now owns 2,297,580 shares of the biopharmaceutical company’s stock worth $257,444,000 after buying an additional 246,063 shares in the last quarter. Element Capital Management LLC purchased a new stake in Gilead Sciences in the first quarter worth about $2,797,000. Fox Run Management L.L.C. increased its position in Gilead Sciences by 5.6% in the first quarter. Fox Run Management L.L.C. now owns 5,995 shares of the biopharmaceutical company’s stock worth $672,000 after buying an additional 319 shares in the last quarter. KLCM Advisors Inc. purchased a new stake in Gilead Sciences in the first quarter worth about $203,000. Finally, Trivium Point Advisory LLC purchased a new stake in Gilead Sciences in the first quarter worth about $206,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.5%

Shares of GILD stock opened at $118.37 on Friday. Gilead Sciences, Inc. has a 1 year low of $72.89 and a 1 year high of $121.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $111.88 and its two-hundred day simple moving average is $108.33. The company has a market cap of $146.87 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the business posted $2.01 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. Gilead Sciences’s dividend payout ratio is 62.95%.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the sale, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the sale, the chief financial officer owned 162,610 shares in the company, valued at approximately $18,054,588.30. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,500 shares of company stock valued at $8,734,625. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of analyst reports. Oppenheimer reduced their price target on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Morgan Stanley upped their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price target for the company. UBS Group upped their price target on Gilead Sciences from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Needham & Company LLC raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.82.

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.