Tyche Wealth Partners LLC Invests $420,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Tyche Wealth Partners LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,181 shares of the biopharmaceutical company’s stock, valued at approximately $420,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Altfest L J & Co. Inc. bought a new stake in Gilead Sciences during the fourth quarter worth $210,000. Abundance Wealth Counselors acquired a new position in shares of Gilead Sciences in the third quarter valued at $1,881,000. Toronto Dominion Bank raised its holdings in Gilead Sciences by 66.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,288,884 shares of the biopharmaceutical company’s stock valued at $96,589,000 after acquiring an additional 515,191 shares during the period. Hussman Strategic Advisors Inc. lifted its holdings in Gilead Sciences by 11.7% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the biopharmaceutical company’s stock worth $3,147,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of Gilead Sciences by 33.9% during the third quarter. Brandywine Global Investment Management LLC now owns 1,535,016 shares of the biopharmaceutical company’s stock worth $115,034,000 after buying an additional 388,482 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. Mizuho lowered their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Cantor Fitzgerald cut their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, Oppenheimer cut their price objective on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.36.

Gilead Sciences Stock Down 0.6 %

Shares of NASDAQ:GILD opened at $66.93 on Thursday. The firm has a market cap of $83.33 billion, a P/E ratio of 14.87, a PEG ratio of 0.92 and a beta of 0.19. Gilead Sciences, Inc. has a 52-week low of $66.89 and a 52-week high of $87.86. The business’s 50 day simple moving average is $72.25 and its two-hundred day simple moving average is $76.66. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. As a group, research analysts forecast that Gilead Sciences, Inc. will post 6.55 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.77 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 68.44%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.