Tidemark LLC Invests $178,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Tidemark LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, Holdings Channel reports. The fund bought 2,195 shares of the biopharmaceutical company’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tompkins Financial Corp boosted its holdings in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares during the period. Private Wealth Management Group LLC bought a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Fortitude Family Office LLC bought a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Sachetta LLC bought a new stake in shares of Gilead Sciences during the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. bought a new stake in Gilead Sciences in the 4th quarter valued at about $33,000. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Maxim Group cut their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Royal Bank of Canada cut their price objective on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a report on Friday, April 26th. Finally, Mizuho cut their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.69.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 1.4 %

NASDAQ GILD traded down $0.92 on Thursday, hitting $66.88. The company’s stock had a trading volume of 1,514,056 shares, compared to its average volume of 7,210,714. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 1-year low of $64.33 and a 1-year high of $87.86. The company’s 50-day moving average is $68.77 and its 200 day moving average is $74.70. The firm has a market cap of $83.32 billion, a PE ratio of 188.33, a PEG ratio of 1.35 and a beta of 0.22.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the company posted $1.37 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Gilead Sciences, Inc. will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.61%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 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.