First American Bank Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

First American Bank cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,800 shares of the biopharmaceutical company’s stock after selling 409 shares during the quarter. First American Bank’s holdings in Gilead Sciences were worth $2,498,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Aviance Capital Partners LLC raised its holdings in Gilead Sciences by 3.2% in the 1st quarter. Aviance Capital Partners LLC now owns 18,230 shares of the biopharmaceutical company’s stock valued at $1,335,000 after buying an additional 569 shares during the period. BKM Wealth Management LLC boosted its holdings in Gilead Sciences by 64.7% in the first quarter. BKM Wealth Management LLC now owns 2,633 shares of the biopharmaceutical company’s stock valued at $193,000 after purchasing an additional 1,034 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Gilead Sciences by 3.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,579 shares of the biopharmaceutical company’s stock valued at $555,000 after buying an additional 255 shares in the last quarter. Park Place Capital Corp boosted its stake in Gilead Sciences by 19.4% in the first quarter. Park Place Capital Corp now owns 8,096 shares of the biopharmaceutical company’s stock valued at $593,000 after acquiring an additional 1,314 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Gilead Sciences by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 922,960 shares of the biopharmaceutical company’s stock worth $67,607,000 after buying an additional 35,021 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GILD shares. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Barclays increased their price objective on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 0.2 %

Shares of NASDAQ GILD opened at $89.00 on Monday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $89.74. The stock has a market capitalization of $110.80 billion, a PE ratio of 108.54, a P/E/G ratio of 3.07 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a fifty day moving average of $82.46 and a 200-day moving average of $73.48.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.76 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 375.61%.

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.