Central Pacific Bank Trust Division Grows Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Central Pacific Bank Trust Division boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,158 shares of the biopharmaceutical company’s stock after acquiring an additional 894 shares during the period. Central Pacific Bank Trust Division’s holdings in Gilead Sciences were worth $1,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GILD. State Street Corp increased its position in Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after purchasing an additional 841,776 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Gilead Sciences by 50.9% during the 3rd 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. FMR LLC lifted its holdings in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC grew its position in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after acquiring an additional 574,421 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after acquiring an additional 93,068 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Performance

Shares of GILD traded down $0.04 during trading hours on Friday, reaching $91.84. 1,698,665 shares of the company traded hands, compared to its average volume of 2,574,528. The stock has a market capitalization of $114.46 billion, a P/E ratio of 1,020.44, a P/E/G ratio of 2.38 and a beta of 0.18. 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 business has a fifty day moving average price of $91.76 and a 200-day moving average price of $82.22. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. Equities analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial boosted their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. UBS Group raised their target price 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. Robert W. Baird upped their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,734 shares of company stock valued at $41,902,086. Company insiders own 0.29% 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.