SouthState Corp Sells 2,584 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

SouthState Corp lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 17.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,010 shares of the biopharmaceutical company’s stock after selling 2,584 shares during the period. SouthState Corp’s holdings in Gilead Sciences were worth $1,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the third quarter worth $25,000. Valued Wealth Advisors LLC grew its stake in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% in 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 last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the 2nd quarter valued at about $33,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 0.8 %

Shares of NASDAQ GILD opened at $87.75 on Wednesday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The firm has a market capitalization of $109.36 billion, a price-to-earnings ratio of 975.00, a PEG ratio of 2.74 and a beta of 0.17. The stock has a 50 day moving average price of $86.99 and a 200 day moving average price of $76.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

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

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Analyst Ratings Changes

GILD has been the topic of several research reports. Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays lifted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last three months. 0.29% of the stock is owned by insiders.

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.