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

Citizens Financial Group Inc. RI grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 36.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 have also recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the second 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 last quarter. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $30,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the 1st quarter worth approximately $29,000. Frank Rimerman Advisors LLC purchased a new position in shares of Gilead Sciences in the fourth quarter worth approximately $36,000. Finally, Fortis Group Advisors LLC grew its position in Gilead Sciences by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the 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 completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the firm’s 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 completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were 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 in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,847 shares of company stock worth $3,002,940. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 1.0 %

Shares of GILD stock opened at $83.89 on Thursday. The company’s fifty day simple moving average is $76.40 and its two-hundred day simple moving average is $71.09. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The stock has a market cap of $104.51 billion, a P/E ratio of 233.03, a PEG ratio of 2.80 and a beta of 0.18. 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 (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on GILD. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. BMO Capital Markets lifted their target price on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada raised their price objective on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note 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 given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.06.

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.