First Financial Bank Trust Division Sells 10,384 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

First Financial Bank Trust Division cut its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,213 shares of the biopharmaceutical company's stock after selling 10,384 shares during the quarter. First Financial Bank Trust Division's holdings in Gilead Sciences were worth $7,195,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in Gilead Sciences in the fourth quarter valued at about $1,789,254,000. FMR LLC increased its holdings in Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter worth about $207,340,000. Finally, Royal Bank of Canada increased its stake in shares of Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after buying an additional 2,005,863 shares during the period. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GILD. Bank of America upped their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Wells Fargo & Company raised their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Piper Sandler increased their price objective on shares of 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 issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Trading Down 1.2%

Shares of Gilead Sciences stock traded down $1.27 during trading on Monday, reaching $108.81. The company's stock had a trading volume of 5,824,598 shares, compared to its average volume of 7,707,832. 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 company has a market cap of $135.35 billion, a price-to-earnings ratio of 294.05, a PEG ratio of 0.71 and a beta of 0.26. The firm's 50-day moving average is $105.49 and its two-hundred day moving average is $100.90. 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 released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the previous year, the business earned ($1.32) earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the transaction, the chief financial officer now owns 168,174 shares of the company's stock, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,929 shares of company stock valued at $5,644,780. Insiders own 0.27% of the company's stock.

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.