M&T Bank Corp Sells 5,007 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

M&T Bank Corp lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 196,168 shares of the biopharmaceutical company's stock after selling 5,007 shares during the quarter. M&T Bank Corp's holdings in Gilead Sciences were worth $21,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stratos Wealth Advisors LLC bought a new stake in Gilead Sciences in the first quarter valued at approximately $216,000. Stratos Investment Management LLC increased its stake in shares of Gilead Sciences by 34.9% during the first quarter. Stratos Investment Management LLC now owns 3,906 shares of the biopharmaceutical company's stock valued at $438,000 after buying an additional 1,011 shares during the period. May Hill Capital LLC purchased a new position in shares of Gilead Sciences during the first quarter valued at approximately $228,000. Ninety One UK Ltd purchased a new position in shares of Gilead Sciences during the first quarter valued at approximately $61,402,000. Finally, Alpha Cubed Investments LLC increased its stake in shares of Gilead Sciences by 32.1% during the first quarter. Alpha Cubed Investments LLC now owns 7,702 shares of the biopharmaceutical company's stock valued at $863,000 after buying an additional 1,871 shares during the period. Institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

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

Gilead Sciences Stock Up 1.1%

Shares of NASDAQ GILD traded up $1.30 during trading on Thursday, reaching $114.54. The company had a trading volume of 6,096,837 shares, compared to its average volume of 7,706,475. Gilead Sciences, Inc. has a 12-month low of $68.14 and a 12-month high of $119.96. The stock has a market cap of $142.48 billion, a PE ratio of 24.11, a P/E/G ratio of 0.73 and a beta of 0.29. The business's 50-day moving average is $107.40 and its 200 day moving average is $104.35. 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 released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The firm had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period in the prior year, the firm posted ($1.32) earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's payout ratio is currently 66.53%.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer directly owned 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $6,340,745 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.