Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Raised by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 62.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,482 shares of the biopharmaceutical company's stock after acquiring an additional 67,785 shares during the quarter. Gilead Sciences makes up approximately 1.2% of Atlantic Union Bankshares Corp's portfolio, making the stock its 16th largest holding. Atlantic Union Bankshares Corp's holdings in Gilead Sciences were worth $19,663,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bridgewater Associates LP grew its holdings in Gilead Sciences by 122.7% during the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after purchasing an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after buying an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 109 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after acquiring an additional 13,086 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Gilead Sciences during the fourth quarter valued at about $1,699,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the transaction, the chief executive officer directly owned 615,725 shares in the company, valued at $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,000 shares of company stock valued at $7,844,775. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

GILD has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Morgan Stanley upped their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Oppenheimer cut their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.38.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $108.22 on Friday. The firm has a market cap of $134.62 billion, a PE ratio of 22.78, a P/E/G ratio of 0.70 and a beta of 0.29. Gilead Sciences, Inc. has a 12 month low of $70.78 and a 12 month high of $119.96. The company's fifty day simple moving average is $108.81 and its 200-day simple moving average is $105.26. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.32) earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.92%. Gilead Sciences's dividend payout ratio is 66.53%.

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.

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