Gilead Sciences (NASDAQ:GILD) Stock Price Down 2.6%

Gilead Sciences, Inc. (NASDAQ:GILD) shares dropped 2.6% on Thursday . The company traded as low as $66.58 and last traded at $66.59. Approximately 3,995,673 shares were traded during trading, a decline of 56% from the average daily volume of 8,998,495 shares. The stock had previously closed at $68.40.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of recent analyst reports. Maxim Group cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Morgan Stanley cut their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. TD Cowen dropped their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Twelve equities research 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’s stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and a consensus price target of $83.47.

Gilead Sciences Stock Performance

The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The stock has a market cap of $82.96 billion, a price-to-earnings ratio of 184.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The company’s 50-day simple moving average is $66.03 and its 200-day simple moving average is $72.29.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. Analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.63%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GILD. Tompkins Financial Corp grew its holdings in shares of Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Gilead Sciences in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC purchased a new position in Gilead Sciences in the fourth quarter valued at about $29,000. Palisade Asset Management LLC purchased a new position in Gilead Sciences in the first quarter valued at about $29,000. Finally, Sachetta LLC purchased a new position in Gilead Sciences in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

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.