Amalgamated Bank Sells 19,072 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Amalgamated Bank reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,795 shares of the biopharmaceutical company's stock after selling 19,072 shares during the period. Amalgamated Bank's holdings in Gilead Sciences were worth $24,367,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GILD. Tompkins Financial Corp grew its position in Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 241 shares during the period. OFI Invest Asset Management acquired a new position in shares of Gilead Sciences during the third quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter worth about $29,000. Rakuten Securities Inc. bought a new position in Gilead Sciences in the 4th quarter valued at about $33,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Gilead Sciences from $76.00 to $74.00 and set a "sector perform" rating for the company in a research note on Friday, April 26th. Morgan Stanley cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an "equal weight" rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald lowered their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, February 7th. StockNews.com upgraded shares of Gilead Sciences from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an "equal weight" rating for the company in a research note on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of "Hold" and a consensus price target of $83.69.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now directly owns 100,936 shares of the company's stock, valued at $7,386,496.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $0.55 during midday trading on Friday, reaching $64.78. The stock had a trading volume of 7,822,402 shares, compared to its average volume of 7,459,802. The firm has a market capitalization of $80.66 billion, a PE ratio of 179.94, a P/E/G ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 12 month low of $64.33 and a 12 month high of $87.86. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08. The firm's 50-day moving average price is $70.72 and its 200 day moving average price is $75.94.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, research analysts predict that Gilead Sciences, Inc. will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Friday, June 14th. Gilead Sciences's payout ratio is currently 855.56%.

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.

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