City State Bank Sells 170 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

City State Bank reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the biopharmaceutical company’s stock after selling 170 shares during the quarter. City State Bank’s holdings in Gilead Sciences were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Redwood Financial Network Corp raised its stake in shares of Gilead Sciences by 4.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 98 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in Gilead Sciences by 2.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock valued at $322,000 after buying an additional 100 shares during the period. Peak Financial Advisors LLC increased its holdings in Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company’s stock valued at $677,000 after buying an additional 100 shares during the period. CFO4Life Group LLC increased its position in shares of Gilead Sciences by 2.7% during the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock worth $394,000 after purchasing an additional 112 shares in the last quarter. Finally, Howe & Rusling Inc. increased its position in shares of Gilead Sciences by 2.5% during the fourth quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 115 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $112.46 on Friday. The firm has a 50 day simple moving average of $105.39 and a 200-day simple moving average of $101.47. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year 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 stock has a market cap 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.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the prior year, the company posted ($1.32) EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.81%. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GILD. Bank of America upped their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Finally, Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer now owns 620,268 shares in the company, valued at $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,929 shares of company stock worth $6,748,980. 0.27% of the stock is currently owned by 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.