Edgestream Partners L.P. Has $2.06 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Edgestream Partners L.P. lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 99.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,401 shares of the biopharmaceutical company’s stock after purchasing an additional 9,152 shares during the period. Edgestream Partners L.P.’s holdings in Gilead Sciences were worth $2,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GILD. Bridgewater Associates LP raised its stake in Gilead Sciences by 122.7% during the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company’s stock valued at $42,577,000 after purchasing an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company’s stock worth $26,750,000 after acquiring an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Gilead Sciences by 14.5% in the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 109 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company’s stock valued at $3,422,000 after purchasing an additional 13,086 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $1,699,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares in the company, valued at approximately $978,880.80. The trade was a 35.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,000 shares of company stock worth $7,844,775. Insiders own 0.27% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $108.80 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $108.58 and a 200-day moving average of $105.06. Gilead Sciences, Inc. has a 12-month low of $70.78 and a 12-month high of $119.96. The company has a market cap of $135.34 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period last year, the firm posted ($1.32) earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences’s dividend payout ratio is presently 66.53%.

Analyst Ratings Changes

Several research firms recently commented on GILD. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $111.38.

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.