Central Pacific Bank Trust Division Has $1.20 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Central Pacific Bank Trust Division lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,264 shares of the biopharmaceutical company’s stock after selling 387 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Gilead Sciences were worth $1,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew its position in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC acquired a new stake in Gilead Sciences in the 1st quarter valued at about $29,000. Cedar Wealth Management LLC grew its holdings in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the second quarter worth approximately $33,000. Finally, Financial Connections Group Inc. bought a new stake in Gilead Sciences in the second quarter valued at approximately $34,000. 83.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GILD shares. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Truist Financial increased 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. BMO Capital Markets increased their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada increased their price objective on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. The sale 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 the business’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 completion of 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 sold 36,847 shares of company stock valued at $3,033,340 over the last quarter. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $84.74 on Thursday. The company has a market capitalization of $105.57 billion, a price-to-earnings ratio of 235.39, a PEG ratio of 2.91 and a beta of 0.18. The stock has a fifty day simple moving average of $78.76 and a 200 day simple moving average of $71.76. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86.

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

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 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.