M&T Bank Corp Reduces Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

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

Several other large investors have also added to or reduced their stakes in GILD. Smallwood Wealth Investment Management LLC bought a new position in Gilead Sciences in the first quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in Gilead Sciences in the first quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Core Alternative Capital lifted its holdings 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 valued at $34,000 after purchasing an additional 241 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Ratings Changes

GILD has been the subject of a number of research analyst reports. Oppenheimer decreased their price target 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. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $111.38.

Gilead Sciences Stock Down 4.3%

Shares of GILD traded down $4.90 during mid-day trading on Friday, reaching $109.64. The company had a trading volume of 6,115,019 shares, compared to its average volume of 7,700,134. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The firm has a 50-day moving average price of $107.62 and a 200 day moving average price of $104.50. Gilead Sciences, Inc. has a 52 week low of $68.14 and a 52 week high of $119.96. The company has a market capitalization of $136.38 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.29.

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, 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 previous year, the firm posted ($1.32) EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.88%. Gilead Sciences's payout ratio is 66.53%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $275,425.00. Following the transaction, the chief financial officer directly owned 165,110 shares of the company's stock, valued at approximately $18,190,168.70. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the sale, the chief executive officer owned 620,268 shares of the company's stock, valued at $68,489,992.56. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock valued at $6,340,745 in the last ninety days. 0.27% of the stock is currently owned by company 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.