Rockland Trust Co. Has $212,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Rockland Trust Co. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 60.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,891 shares of the biopharmaceutical company's stock after selling 2,879 shares during the quarter. Rockland Trust Co.'s holdings in Gilead Sciences were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GILD. Annis Gardner Whiting Capital Advisors LLC grew its stake in 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 worth $33,000 after purchasing an additional 216 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in Gilead Sciences during the 4th quarter worth approximately $35,000. Whipplewood Advisors LLC acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $35,000. Synergy Investment Management LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $40,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Bank of America raised their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.55.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the sale, the chief financial officer now owns 165,674 shares in the company, valued at approximately $16,537,578.68. This represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $4,630,310 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded down $2.07 on Friday, hitting $109.98. The company had a trading volume of 8,148,740 shares, compared to its average volume of 7,752,504. Gilead Sciences, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market cap of $136.81 billion, a PE ratio of 297.24, a PEG ratio of 0.71 and a beta of 0.29. The business has a 50-day simple moving average of $105.67 and a 200-day simple moving average of $102.19.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same period in the prior year, the company earned ($1.32) EPS. Gilead Sciences's revenue was down .3% on a year-over-year basis. Research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.87%. Gilead Sciences's dividend payout ratio (DPR) is presently 66.53%.

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.