Grove Bank & Trust Buys 3,572 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Grove Bank & Trust lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 172.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,640 shares of the biopharmaceutical company's stock after buying an additional 3,572 shares during the quarter. Grove Bank & Trust's holdings in Gilead Sciences were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Gilead Sciences by 8.4% during the first quarter. QRG Capital Management Inc. now owns 280,310 shares of the biopharmaceutical company's stock valued at $31,409,000 after acquiring an additional 21,725 shares during the period. Sagespring Wealth Partners LLC boosted its stake in Gilead Sciences by 13.1% during the 1st quarter. Sagespring Wealth Partners LLC now owns 13,503 shares of the biopharmaceutical company's stock valued at $1,513,000 after purchasing an additional 1,563 shares during the period. Adero Partners LLC grew its holdings in Gilead Sciences by 6.3% in the 1st quarter. Adero Partners LLC now owns 2,642 shares of the biopharmaceutical company's stock valued at $296,000 after buying an additional 156 shares during the last quarter. Sowell Financial Services LLC bought a new position in Gilead Sciences in the 1st quarter worth approximately $912,000. Finally, Mission Wealth Management LP lifted its holdings in shares of Gilead Sciences by 21.5% during the first quarter. Mission Wealth Management LP now owns 12,910 shares of the biopharmaceutical company's stock worth $1,447,000 after buying an additional 2,285 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

GILD has been the topic of a number of research reports. Bank of America boosted their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,174 shares in the company, valued at approximately $17,893,713.60. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares in the company, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,500 shares of company stock worth $5,236,245. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Stock Down 2.6%

NASDAQ GILD opened at $108.00 on Wednesday. The company has a market cap of $134.34 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year high of $119.96. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $105.88 and a 200-day moving average of $102.49.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion for 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 revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.32) earnings per share. On average, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.93%. Gilead Sciences's dividend payout ratio is currently 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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