Rockland Trust Co. Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Rockland Trust Co. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 60.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,891 shares of the biopharmaceutical company’s stock after selling 2,879 shares during the period. Rockland Trust Co.’s holdings in Gilead Sciences were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its stake in shares of Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company’s stock valued at $42,577,000 after buying an additional 253,994 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company’s stock worth $26,750,000 after acquiring an additional 14,009 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Gilead Sciences by 54.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company’s stock worth $3,422,000 after acquiring an additional 13,086 shares during the period. Mufg Securities Americas Inc. acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $1,699,000. Finally, Convergence Investment Partners LLC raised its stake in shares of Gilead Sciences by 15.8% during the fourth quarter. Convergence Investment Partners LLC now owns 68,447 shares of the biopharmaceutical company’s stock valued at $6,322,000 after purchasing an additional 9,330 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the transaction, the chief financial officer now owns 168,174 shares in the company, valued at approximately $17,893,713.60. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,000 shares of company stock valued at $4,630,310 over the last three months. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Wells Fargo & Company boosted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Trading Down 1.8%

NASDAQ GILD opened at $109.98 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a one year low of $62.69 and a one year high of $119.96. The company has a 50-day simple moving average of $105.67 and a 200-day simple moving average of $102.19. The firm has a market capitalization of $136.81 billion, a PE ratio of 297.24, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Gilead Sciences’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.32) earnings per share. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio is presently 66.53%.

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.