First Financial Bank Trust Division Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

First Financial Bank Trust Division lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,770 shares of the biopharmaceutical company’s stock after selling 2,236 shares during the quarter. Gilead Sciences comprises 1.2% of First Financial Bank Trust Division’s portfolio, making the stock its 25th biggest holding. First Financial Bank Trust Division’s holdings in Gilead Sciences were worth $11,928,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. ST Germain D J Co. Inc. boosted its stake in Gilead Sciences by 15.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 4,246 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 560 shares during the period. Heritage Wealth Management LLC boosted its position in shares of Gilead Sciences by 54.6% during the fourth quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 130 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Gilead Sciences by 187.9% during the first quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC purchased a new position in Gilead Sciences during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 82.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GILD shares. Piper Sandler decreased their target price on Gilead Sciences from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, July 24th. StockNews.com started coverage on shares of Gilead Sciences in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. HSBC assumed coverage on Gilead Sciences in a report on Wednesday, September 6th. They issued a “reduce” rating and a $71.00 price target for the company. Barclays decreased their target price on Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. Finally, Morgan Stanley increased their price target on Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.05.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 1,501 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total transaction of $115,561.99. Following the sale, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Merdad Parsey sold 1,501 shares of Gilead Sciences stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total transaction of $115,561.99. Following the completion of the sale, the insider now owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief financial officer now owns 107,587 shares in the company, valued at approximately $8,606,960. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD opened at $77.31 on Thursday. Gilead Sciences, Inc. has a twelve month low of $61.44 and a twelve month high of $89.74. The company has a 50 day moving average of $77.23 and a two-hundred day moving average of $78.86. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a market cap of $96.33 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.83 and a beta of 0.37.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.30). Gilead Sciences had a return on equity of 37.53% and a net margin of 20.03%. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the prior year, the business posted $1.58 EPS. Gilead Sciences’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences, Inc. will post 6.63 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.88%. Gilead Sciences’s payout ratio is 68.97%.

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.