First County Bank CT Sells 1,621 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

First County Bank CT lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.1% during the second quarter, HoldingsChannel.com reports. The firm owned 25,004 shares of the biopharmaceutical company’s stock after selling 1,621 shares during the period. First County Bank CT’s holdings in Gilead Sciences were worth $1,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Institute for Wealth Management LLC. increased its stake in Gilead Sciences by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 142 shares in the last quarter. First Affirmative Financial Network increased its position in shares of Gilead Sciences by 3.5% in the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 147 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in Gilead Sciences by 1.7% during the 2nd quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock worth $661,000 after buying an additional 148 shares during the period. Rathbones Group PLC lifted its holdings in Gilead Sciences by 3.7% during the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock worth $339,000 after acquiring an additional 150 shares in the last quarter. Finally, MCF Advisors LLC grew its stake in Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock valued at $538,000 after acquiring an additional 152 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Performance

GILD opened at $83.04 on Friday. 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 business’s 50-day simple moving average is $77.83 and its 200 day simple moving average is $71.53. The firm has a market capitalization of $103.46 billion, a PE ratio of 230.67, a PEG ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a report on Monday, September 16th. Finally, Truist Financial boosted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $82.06.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on 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 owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,002,940 in the last ninety days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Company 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.