City State Bank Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

City State Bank reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% during the 1st quarter, HoldingsChannel reports. The firm owned 3,217 shares of the biopharmaceutical company’s stock after selling 170 shares during the period. City State Bank’s holdings in Gilead Sciences were worth $360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bridgewater Associates LP grew its position in Gilead Sciences by 122.7% during the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company’s stock worth $42,577,000 after purchasing an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company’s stock valued at $26,750,000 after purchasing an additional 14,009 shares during the period. NatWest Group plc acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $6,808,000. Empowered Funds LLC lifted its stake in shares of Gilead Sciences by 55.8% in the fourth quarter. Empowered Funds LLC now owns 219,579 shares of the biopharmaceutical company’s stock valued at $20,283,000 after purchasing an additional 78,657 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its position in Gilead Sciences by 54.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company’s stock worth $3,422,000 after acquiring an additional 13,086 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Piper Sandler boosted their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.55.

Gilead Sciences Trading Up 1.8%

NASDAQ GILD opened at $112.46 on Friday. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market capitalization of $139.89 billion, a price-to-earnings ratio of 303.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26. The company’s fifty day moving average price is $105.39 and its two-hundred day moving average price is $101.47.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.32) earnings per share. As a group, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the sale, the insider now owns 121,152 shares of the company’s stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 17,929 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares in the company, valued at approximately $19,977,938.37. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,929 shares of company stock valued at $6,748,980. Company insiders own 0.27% of the company’s stock.

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.