NewSquare Capital LLC Grows Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

NewSquare Capital LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 53,336 shares of the biopharmaceutical company’s stock after purchasing an additional 1,247 shares during the quarter. NewSquare Capital LLC’s holdings in Gilead Sciences were worth $4,264,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences during the 3rd quarter valued at approximately $26,000. Tompkins Financial Corp raised its position 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 valued at $26,000 after buying an additional 241 shares during the period. Fortitude Family Office LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on 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. Barclays cut their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Mizuho dropped their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.57.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at $7,386,496.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.18 on Wednesday, reaching $66.85. The company’s stock had a trading volume of 3,916,870 shares, compared to its average volume of 7,258,320. The stock’s 50-day moving average is $71.68 and its two-hundred day moving average is $76.46. Gilead Sciences, Inc. has a 52-week low of $65.90 and a 52-week high of $87.86. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The stock has a market capitalization of $83.23 billion, a P/E ratio of 14.89, a PEG ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the company posted $1.67 earnings per share. Gilead Sciences’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 6.28 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.61%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is presently 68.44%.

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.