Zions Bancorporation National Association UT Purchases New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Zions Bancorporation acquired a new $10.50 million stake in Gilead Sciences, purchasing 93,742 shares, which now constitutes approximately 0.7% of their portfolio.
• Institutional investors hold a substantial stake in Gilead Sciences, owning 83.67% of the company's stock, with significant investments from firms like GAMMA Investing and Vanguard Group.
• Gilead Sciences reported a quarterly earnings per share of $2.01, exceeding analyst expectations, alongside a revenue of $7.08 billion, reflecting a year-over-year growth of 1.4%.

Zions Bancorporation National Association UT bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 93,742 shares of the biopharmaceutical company's stock, valued at approximately $10,504,000. Gilead Sciences makes up about 0.7% of Zions Bancorporation National Association UT's portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new position in Gilead Sciences during the first quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in shares of Gilead Sciences in the first quarter valued at $29,000. Core Alternative Capital increased its position 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 buying an additional 241 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Gilead Sciences in the first quarter valued at $39,000. Finally, Clearstead Trust LLC increased its position in shares of Gilead Sciences by 287.6% in the first quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $127.00 in a research report on Friday. Morgan Stanley lifted their target price on shares of 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 upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Gilead Sciences Trading Up 8.3%

Gilead Sciences stock traded up $9.13 during trading on Friday, reaching $119.41. The company had a trading volume of 13,112,190 shares, compared to its average volume of 5,807,634. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $121.38. The stock's 50 day moving average price is $110.93 and its two-hundred day moving average price is $107.53. The firm has a market capitalization of $148.54 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.75 and a beta of 0.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 51.45%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. Gilead Sciences's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is currently 62.95%.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the transaction, the chief financial officer directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. 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 company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer owned 605,725 shares of the company's stock, valued at $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

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.