City State Bank Sells 288 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

City State Bank reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.8% during the fourth quarter, HoldingsChannel reports. The firm owned 3,387 shares of the biopharmaceutical company’s stock after selling 288 shares during the period. City State Bank’s holdings in Gilead Sciences were worth $313,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GILD. nVerses Capital LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences during the second quarter worth $33,000. Finally, Quarry LP acquired a new stake in Gilead Sciences in the second quarter worth $43,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded up $0.30 during mid-day trading on Monday, reaching $90.18. 1,261,414 shares of the company’s stock were exchanged, compared to its average volume of 5,315,608. The firm has a market capitalization of $112.39 billion, a price-to-earnings ratio of 1,002.00, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. The firm has a 50-day moving average price of $91.94 and a two-hundred day moving average price of $83.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GILD. Royal Bank of Canada reiterated a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Wolfe Research began coverage on Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price target on the stock. Daiwa America raised Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Bank of America reissued a “buy” rating and issued a $109.00 price target on shares of Gilead Sciences in a research report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $97.96.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,734 shares of company stock worth $41,902,086 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

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.