Central Bank & Trust Co. Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Central Bank & Trust Co. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 30.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,977 shares of the biopharmaceutical company's stock after selling 3,114 shares during the period. Central Bank & Trust Co.'s holdings in Gilead Sciences were worth $782,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Gilead Sciences by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 216 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in Gilead Sciences during the fourth quarter worth about $35,000. Whipplewood Advisors LLC purchased a new stake in Gilead Sciences during the fourth quarter worth about $35,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $40,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on GILD shares. Wells Fargo & Company boosted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research note 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 on the stock in a report on Thursday, February 13th. Finally, Piper Sandler increased their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.55.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now owns 168,174 shares in the company, valued at $17,893,713.60. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 620,268 shares of the company's stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,929 shares of company stock valued at $6,748,980 over the last three months. 0.27% of the stock is owned by insiders.

Gilead Sciences Price Performance

GILD stock opened at $112.46 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The stock's 50 day moving average is $105.39 and its two-hundred day moving average is $101.56. The company has a market capitalization of $139.89 billion, a PE ratio of 303.95, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.32) earnings per share. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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

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.

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