Somerset Trust Co Lowers Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Somerset Trust Co reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,669 shares of the biopharmaceutical company’s stock after selling 394 shares during the quarter. Somerset Trust Co’s holdings in Gilead Sciences were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd boosted its stake in Gilead Sciences by 7.0% in the 4th quarter. Altshuler Shaham Ltd now owns 1,856 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 121 shares during the period. McGlone Suttner Wealth Management Inc. boosted its stake in Gilead Sciences by 3.6% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 3,581 shares of the biopharmaceutical company’s stock worth $297,000 after purchasing an additional 124 shares during the period. Pinkerton Retirement Specialists LLC boosted its stake in Gilead Sciences by 2.8% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 4,703 shares of the biopharmaceutical company’s stock worth $390,000 after purchasing an additional 129 shares during the period. Heritage Wealth Management LLC boosted its stake in Gilead Sciences by 54.6% in the 4th quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 130 shares during the period. Finally, BerganKDV Wealth Management LLC raised its holdings in shares of Gilead Sciences by 41.9% during the 1st quarter. BerganKDV Wealth Management LLC now owns 440 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 130 shares in the last quarter. 82.33% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 0.9 %

GILD stock traded down $0.73 during midday trading on Friday, reaching $76.63. The company’s stock had a trading volume of 1,978,000 shares, compared to its average volume of 5,754,887. Gilead Sciences, Inc. has a 1 year low of $61.44 and a 1 year high of $89.74. The stock has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $78.85. The firm has a market capitalization of $95.48 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.83 and a beta of 0.37. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.91 and a current ratio of 1.02.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.30). Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the business earned $1.58 EPS. Gilead Sciences’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences, Inc. will post 6.64 EPS for the current year.

Gilead Sciences Announces Dividend

The firm 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.97%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GILD shares. Morgan Stanley upped their price objective on Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Barclays decreased their price objective on Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, July 24th. BMO Capital Markets decreased their price objective on Gilead Sciences from $100.00 to $95.00 in a report on Tuesday, July 18th. Truist Financial reaffirmed a “buy” rating and set a $91.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 6th. Finally, HSBC initiated coverage on Gilead Sciences in a report on Wednesday, September 6th. They set a “reduce” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $90.05.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the sale, the insider now directly owns 70,130 shares in the company, valued at $5,399,308.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the transaction, the insider now directly owns 70,130 shares in the company, valued at $5,399,308.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the chief financial officer now owns 107,587 shares of the company’s stock, valued at $8,606,960. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company 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, 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.