Essex Savings Bank Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Essex Savings Bank raised its position in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,547 shares of the biopharmaceutical company’s stock after purchasing an additional 240 shares during the quarter. Essex Savings Bank’s holdings in Gilead Sciences were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers increased its position in shares of Gilead Sciences by 9.2% in the first quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock worth $3,446,000 after acquiring an additional 4,877 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Gilead Sciences by 3.9% in the first quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock valued at $26,660,000 after buying an additional 16,643 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Gilead Sciences by 44.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 2,654 shares during the last quarter. Donaldson Capital Management LLC boosted its holdings in shares of Gilead Sciences by 12.5% in the 1st quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock valued at $343,000 after buying an additional 641 shares during the period. Finally, Ergoteles LLC acquired a new position in Gilead Sciences in the first quarter valued at approximately $2,304,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the sale, the insider now owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now directly owns 100,936 shares in the company, valued at $7,386,496.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 8,242 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total value of $702,465.66. Following the completion of the sale, the insider now directly owns 82,729 shares of the company’s stock, valued at approximately $7,050,992.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,242 shares of company stock valued at $1,277,726. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GILD shares. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th. Barclays decreased their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Mizuho lowered their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company cut their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Finally, Oppenheimer decreased their price target on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.36.

View Our Latest Report on GILD

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $0.65 on Tuesday, reaching $72.23. 1,623,134 shares of the company traded hands, compared to its average volume of 7,455,056. The stock has a market capitalization of $89.93 billion, a PE ratio of 16.20, a P/E/G ratio of 0.93 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The company’s 50 day moving average is $74.46 and its 200-day moving average is $77.20. Gilead Sciences, Inc. has a fifty-two week low of $71.37 and a fifty-two week high of $87.86.

Gilead Sciences (NASDAQ:GILDGet Free Report) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 earnings per share. As a group, analysts anticipate that Gilead Sciences, Inc. will post 7.07 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 4.26%. Gilead Sciences’s payout ratio is presently 68.44%.

Gilead Sciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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