Motiv8 Investments LLC Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Motiv8 Investments LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,779 shares of the biopharmaceutical company’s stock after selling 378 shares during the quarter. Motiv8 Investments LLC’s holdings in Gilead Sciences were worth $1,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. Redwood Financial Network Corp lifted its stake in shares of Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 98 shares during the last quarter. Nicolet Advisory Services LLC increased its stake in Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 100 shares during the period. Peak Financial Advisors LLC raised its stake in shares of Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company’s stock valued at $677,000 after acquiring an additional 100 shares in the last quarter. Perkins Coie Trust Co increased its holdings in Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. raised its holdings in shares of Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley increased their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Gilead Sciences Stock Down 1.2%

NASDAQ GILD opened at $105.93 on Thursday. Gilead Sciences, Inc. has a 52 week low of $66.01 and a 52 week high of $119.96. The firm has a market cap of $131.77 billion, a PE ratio of 22.30, a P/E/G ratio of 0.69 and a beta of 0.29. The business’s fifty day simple moving average is $106.21 and its 200-day simple moving average is $103.03. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

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

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, June 13th. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider now directly owns 121,152 shares in the company, valued at $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,500 shares of company stock valued at $5,236,245. Company insiders own 0.27% of the company’s stock.

Gilead Sciences 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.