Glenview Trust co Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Glenview Trust co cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,605 shares of the biopharmaceutical company’s stock after selling 595 shares during the period. Glenview Trust co’s holdings in Gilead Sciences were worth $15,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GILD. FMR LLC raised its holdings in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after buying an additional 5,653,075 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $207,340,000. Finally, Point72 Asset Management L.P. grew its stake in Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after acquiring an additional 1,793,145 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $111.44 on Friday. The firm’s fifty day simple moving average is $101.82 and its 200 day simple moving average is $92.82. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The firm has a market capitalization of $138.78 billion, a price-to-earnings ratio of 301.19, a PEG ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.79 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.84%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Analyst Ratings Changes

Several analysts have issued reports on GILD shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Piper Sandler increased their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Gilead Sciences from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Bank of America increased their price objective on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $104.52.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 311,285 shares of company stock worth $31,284,910 over the last 90 days. Company insiders own 0.16% of the company’s stock.

About Gilead Sciences

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.