Farmers Trust Co. Boosts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Farmers Trust Co. raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,004 shares of the biopharmaceutical company’s stock after buying an additional 2,306 shares during the period. Farmers Trust Co.’s holdings in Gilead Sciences were worth $5,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% during 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 bought a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Cedar Wealth Management LLC increased its stake in shares of Gilead Sciences by 51.6% in 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 in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $33,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.7 %

NASDAQ:GILD opened at $84.17 on Friday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The firm has a 50 day moving average of $78.91 and a 200 day moving average of $71.85. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $104.86 billion, a price-to-earnings ratio of 233.81, a PEG ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.64 billion. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.66%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. 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 business’s stock in a transaction on 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 of the company’s stock, valued at $8,398,843.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock worth $3,033,340. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Truist Financial upped their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Twelve 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

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.