Community Bank N.A. Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Community Bank N.A. reduced its stock holdings in Gilead Sciences by 71.5% during the second quarter, decreasing its position to 2,000 shares valued at $222,000.
• Gilead reported earnings of $2.01 per share for the last quarter, surpassing analysts' expectations and resulting in a revenue of $7.08 billion.
• The company declared a quarterly dividend of $0.79 per share, with a payout ratio of 62.95% and an annualized dividend yield of 2.7%.

Community Bank N.A. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 71.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,000 shares of the biopharmaceutical company's stock after selling 5,028 shares during the quarter. Community Bank N.A.'s holdings in Gilead Sciences were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. NorthRock Partners LLC grew its holdings in shares of Gilead Sciences by 11.1% during the second quarter. NorthRock Partners LLC now owns 12,922 shares of the biopharmaceutical company's stock valued at $1,433,000 after buying an additional 1,290 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Gilead Sciences by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 107,541 shares of the biopharmaceutical company's stock valued at $11,923,000 after buying an additional 500 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Gilead Sciences by 39.3% during the second quarter. Vest Financial LLC now owns 14,472 shares of the biopharmaceutical company's stock valued at $1,605,000 after buying an additional 4,080 shares during the last quarter. Welch Group LLC grew its holdings in shares of Gilead Sciences by 29.1% during the second quarter. Welch Group LLC now owns 3,883 shares of the biopharmaceutical company's stock valued at $431,000 after buying an additional 876 shares during the last quarter. Finally, Cypress Capital Group grew its holdings in shares of Gilead Sciences by 1.1% during the second quarter. Cypress Capital Group now owns 48,533 shares of the biopharmaceutical company's stock valued at $5,381,000 after buying an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Up 0.2%

Shares of Gilead Sciences stock opened at $118.48 on Wednesday. The company's fifty day simple moving average is $114.84 and its 200-day simple moving average is $110.35. The stock has a market capitalization of $147.01 billion, a PE ratio of 23.60, a P/E/G ratio of 0.80 and a beta of 0.34. Gilead Sciences, Inc. has a 1-year low of $84.80 and a 1-year high of $121.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Monday, September 15th. The shares were sold at an average price of $113.57, for a total transaction of $283,925.00. Following the transaction, the chief financial officer owned 159,555 shares in the company, valued at $18,120,661.35. This trade represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider owned 114,168 shares in the company, valued at $13,532,333.04. This represents a 19.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $7,632,100 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GILD shares. Dbs Bank upgraded shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Royal Bank Of Canada raised their target price on shares of Gilead Sciences from $98.00 to $100.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 8th. UBS Group raised their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Citigroup raised their target price on shares of Gilead Sciences from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.08.

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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