Fulton Bank N.A. Has $2.33 Million Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Fulton Bank N.A. reduced its stake in Gilead Sciences, Inc. by 30.9%, selling 9,389 shares, and now holds 21,026 shares valued at approximately $2.33 million.
• Analysts have a mostly positive outlook for Gilead Sciences, with several firms raising their price targets, resulting in an average consensus target price of $117.17 and a rating of "Moderate Buy."
• Gilead Sciences recently declared a quarterly dividend of $0.79 per share, equating to an annualized dividend yield of 2.8%, set to be distributed on September 29th.

Fulton Bank N.A. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 30.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,026 shares of the biopharmaceutical company's stock after selling 9,389 shares during the period. Fulton Bank N.A.'s holdings in Gilead Sciences were worth $2,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Bison Wealth LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $215,000. Waverly Advisors LLC boosted its position in Gilead Sciences by 8.6% in the 4th quarter. Waverly Advisors LLC now owns 29,181 shares of the biopharmaceutical company's stock valued at $2,695,000 after buying an additional 2,320 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Gilead Sciences by 14.7% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 238,404 shares of the biopharmaceutical company's stock valued at $22,021,000 after purchasing an additional 30,529 shares in the last quarter. Finally, Vise Technologies Inc. lifted its holdings in Gilead Sciences by 30.5% during the fourth quarter. Vise Technologies Inc. now owns 26,838 shares of the biopharmaceutical company's stock valued at $2,479,000 after purchasing an additional 6,276 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $3,318,840.00. Following the completion of the transaction, the insider directly owned 114,168 shares in the company, valued at approximately $13,532,333.04. The trade was a 19.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $9,390,030 over the last three months. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent research reports. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a report on Friday, July 25th. UBS Group boosted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a report on Tuesday, August 19th. Finally, Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the stock from $108.00 to $127.00 in a research note on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $117.17.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded up $0.47 during trading on Friday, reaching $114.09. The company's stock had a trading volume of 12,580,487 shares, compared to its average volume of 5,841,828. The firm has a market cap of $141.56 billion, a PE ratio of 22.73, a P/E/G ratio of 0.77 and a beta of 0.36. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52 week low of $81.83 and a 52 week high of $121.83. The business's 50-day moving average price is $114.10 and its 200-day moving average price is $110.03.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities 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 Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's payout ratio is 62.95%.

Gilead Sciences 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.