First County Bank CT Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

First County Bank CT increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,760 shares of the biopharmaceutical company’s stock after purchasing an additional 680 shares during the period. Gilead Sciences makes up about 1.2% of First County Bank CT’s portfolio, making the stock its 19th biggest position. First County Bank CT’s holdings in Gilead Sciences were worth $2,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its position in shares of Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares in the last quarter. Concord Asset Management LLC VA boosted its stake in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC increased its stake in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in shares of Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 117 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred 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 directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,734 shares of company stock worth $41,902,086. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research analyst reports. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial increased their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. 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. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Price Performance

GILD traded down $0.12 on Tuesday, reaching $91.11. 3,194,370 shares of the company’s stock were exchanged, compared to its average volume of 4,393,447. The stock has a market cap of $113.55 billion, a PE ratio of 1,012.33, a P/E/G ratio of 2.24 and a beta of 0.18. 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 twelve month low of $62.07 and a twelve month high of $98.90. The stock’s fifty day moving average price is $91.86 and its 200-day moving average price is $82.84.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 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.