Fulton Bank N.A. Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Fulton Bank N.A. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,037 shares of the biopharmaceutical company’s stock after selling 3,518 shares during the period. Fulton Bank N.A.’s holdings in Gilead Sciences were worth $3,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. nVerses Capital LLC acquired a new position in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the second quarter worth about $33,000. Finally, Quarry LP purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth about $43,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $96.43.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,734 shares of company stock valued at $41,902,086. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Trading Down 1.1 %

NASDAQ GILD traded down $0.98 during trading on Wednesday, hitting $89.65. The stock had a trading volume of 2,383,677 shares, compared to its average volume of 4,524,071. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $111.73 billion, a PE ratio of 996.11, a PEG ratio of 2.24 and a beta of 0.18. The firm has a 50 day moving average price of $91.91 and a 200 day moving average price of $82.98. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.