American Trust Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

American Trust decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,226 shares of the biopharmaceutical company’s stock after selling 3,205 shares during the quarter. American Trust’s holdings in Gilead Sciences were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. grew its position 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 stake in Gilead Sciences during the first quarter valued at about $29,000. Cedar Wealth Management LLC increased its position in 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 buying an additional 160 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at about $33,000. Finally, Financial Connections Group Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter valued at approximately $34,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on GILD shares. Royal Bank of Canada raised their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 4th. Piper Sandler restated an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Raymond James upgraded 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. Finally, Robert W. Baird reiterated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Gilead Sciences Trading Up 0.1 %

Shares of NASDAQ GILD opened at $83.94 on Wednesday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The business’s 50 day moving average is $78.53 and its two-hundred day moving average is $71.67. The stock has a market capitalization of $104.58 billion, a P/E ratio of 233.17, a PEG ratio of 2.91 and a beta of 0.18.

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, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, research analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was 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 approximately $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

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.