Farmers Trust Co. Sells 14,793 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Farmers Trust Co. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,734 shares of the biopharmaceutical company's stock after selling 14,793 shares during the quarter. Farmers Trust Co.'s holdings in Gilead Sciences were worth $5,461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP increased its position in Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after purchasing an additional 253,994 shares during the period. McAdam LLC increased its position in Gilead Sciences by 16.7% in the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock worth $2,344,000 after purchasing an additional 3,627 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the period. Foster & Motley Inc. grew its position in shares of Gilead Sciences by 80.4% during the 4th quarter. Foster & Motley Inc. now owns 10,587 shares of the biopharmaceutical company's stock worth $978,000 after buying an additional 4,718 shares during the period. Finally, Clear Creek Financial Management LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $1,173,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 0.7%

Shares of Gilead Sciences stock traded down $0.76 on Friday, reaching $110.35. 11,912,582 shares of the company were exchanged, compared to its average volume of 7,714,787. The company has a market capitalization of $137.27 billion, a price-to-earnings ratio of 298.24, a PEG ratio of 0.71 and a beta of 0.26. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a one year low of $62.69 and a one year high of $119.96. The company has a 50-day moving average of $105.49 and a 200 day moving average of $100.78.

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

Gilead Sciences Announces Dividend

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. This represents a $3.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is presently 66.53%.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 17,929 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the sale, the chief financial officer now owns 169,061 shares of the company's stock, valued at $19,977,938.37. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,929 shares of company stock valued at $5,644,780. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on GILD shares. Piper Sandler upped their price target on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Morgan Stanley upped their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. DZ Bank raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets upped their price target on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.55.

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.