AMG National Trust Bank Acquires 4,638 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

AMG National Trust Bank grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 66,993 shares of the biopharmaceutical company’s stock after acquiring an additional 4,638 shares during the quarter. AMG National Trust Bank’s holdings in Gilead Sciences were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new stake in Gilead Sciences in the second quarter worth $25,328,000. Legal & General Group Plc boosted its position in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. IRON Financial LLC purchased a new position in shares of Gilead Sciences in the third quarter worth about $830,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after purchasing an additional 33,162 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Gilead Sciences by 127.6% during the 1st quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after buying an additional 119,909 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GILD has been the topic of a number of analyst reports. Truist Financial boosted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Cantor Fitzgerald boosted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup assumed coverage on shares of Gilead Sciences in a report on Thursday. They issued a “buy” rating and a $125.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $93.86.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD opened at $88.40 on Monday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a 50-day moving average price of $86.68 and a 200-day moving average price of $76.11. The firm has a market cap of $110.17 billion, a PE ratio of 982.22, a P/E/G ratio of 2.72 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.48%. Gilead Sciences’s payout ratio is 3,422.22%.

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.