Citizens Financial Group Inc. RI Raises Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Citizens Financial Group Inc. RI boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 36.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,984 shares of the biopharmaceutical company’s stock after acquiring an additional 1,588 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Gilead Sciences were worth $411,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GILD. Manning & Napier Advisors LLC purchased a new stake in shares of Gilead Sciences during the second quarter valued at $25,328,000. Eagle Asset Management Inc. boosted its position in Gilead Sciences by 23.6% in the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after buying an additional 60,697 shares during the period. GSA Capital Partners LLP bought a new position in Gilead Sciences in the 1st quarter worth about $462,000. Brookstone Capital Management increased its position in shares of Gilead Sciences by 751.1% during the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock worth $9,322,000 after acquiring an additional 112,305 shares during the period. Finally, Comerica Bank raised its stake in shares of Gilead Sciences by 10.7% during the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock valued at $26,733,000 after acquiring an additional 31,849 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,002,940 in the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock opened at $83.89 on Thursday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a market capitalization of $104.51 billion, a price-to-earnings ratio of 233.03, a PEG ratio of 2.80 and a beta of 0.18. The stock’s 50-day simple moving average is $76.40 and its 200-day simple moving average is $71.09.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.67%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GILD. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. BMO Capital Markets increased their price target on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Truist Financial boosted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

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.