Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Cut by Iowa State Bank

Iowa State Bank cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 25,258 shares of the biopharmaceutical company’s stock after selling 475 shares during the period. Iowa State Bank’s holdings in Gilead Sciences were worth $2,333,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. nVerses Capital LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Cedar Wealth Management LLC grew its stake 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 buying an additional 160 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the 2nd quarter valued at approximately $33,000. Finally, Quarry LP bought a new stake in shares of Gilead Sciences in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GILD. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Barclays raised their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Insider Transactions at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the transaction, the chief financial officer now owns 132,373 shares of the company’s stock, valued at approximately $12,173,021.08. This represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,734 shares of company stock valued at $41,902,086. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

GILD stock traded down $0.56 during trading hours on Monday, hitting $90.85. 2,616,397 shares of the stock were exchanged, compared to its average volume of 3,412,327. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $113.22 billion, a P/E ratio of 1,009.44, a P/E/G ratio of 2.24 and a beta of 0.18. The company has a 50-day simple moving average of $91.81 and a two-hundred day simple moving average of $82.68.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.39%. Gilead Sciences’s payout ratio is 3,422.22%.

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.