Gilead Sciences, Inc. $GILD Shares Sold by First County Bank CT

Key Points

• First County Bank CT reduced its holdings in Gilead Sciences by 14.8%, owning 19,391 shares after selling 3,373 shares, which represent 1.2% of its total investments.
• Insider Johanna Mercier sold 3,000 shares for $340,710, while CEO Daniel O'Day sold 10,000 shares valued at $1,136,300, indicating a decrease in their ownership stakes.
• Analysts have raised Gilead Sciences' price targets, with JPMorgan increasing its target from $135 to $145, showing positive sentiment in the stock's future performance.

First County Bank CT lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,391 shares of the biopharmaceutical company's stock after selling 3,373 shares during the period. Gilead Sciences comprises 1.2% of First County Bank CT's holdings, making the stock its 21st biggest holding. First County Bank CT's holdings in Gilead Sciences were worth $2,150,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Gilead Sciences in the first quarter worth approximately $25,000. Activest Wealth Management increased its position in shares of Gilead Sciences by 2,837.5% in the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 227 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Colonial Trust Advisors increased its position in shares of Gilead Sciences by 304.3% in the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 213 shares in the last quarter. Finally, Core Alternative Capital increased its position in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $113.57, for a total value of $340,710.00. Following the completion of the sale, the insider directly owned 113,193 shares in the company, valued at approximately $12,855,329.01. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the completion of the sale, the chief executive officer owned 595,725 shares of the company's stock, valued at $67,692,231.75. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,000 shares of company stock worth $8,285,530. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Rothschild & Co Redburn raised their price target on shares of Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Royal Bank Of Canada raised their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Finally, Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $117.17.

Gilead Sciences Price Performance

NASDAQ GILD opened at $112.10 on Monday. The company has a 50 day moving average price of $114.41 and a two-hundred day moving average price of $109.89. 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 12-month low of $82.82 and a 12-month high of $121.83. The stock has a market capitalization of $139.09 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.76 and a beta of 0.36.

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

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is presently 62.95%.

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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