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

Fulton Bank N.A. lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GILD. State Street Corp grew its holdings in shares of Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after buying an additional 841,776 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 50.9% during 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 purchasing an additional 11,665,593 shares in the last quarter. FMR LLC boosted its position in shares of Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC increased its holdings in Gilead Sciences by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after buying an additional 574,421 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after acquiring an additional 93,068 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 8,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $91.96, for a total value of $781,660.00. Following the completion of the sale, the chief financial officer now owns 132,373 shares in the company, valued at approximately $12,173,021.08. The trade was a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,734 shares of company stock worth $41,902,086. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GILD. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wolfe Research assumed coverage on Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 price target on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Price Performance

Shares of GILD stock traded down $0.98 on Wednesday, reaching $89.65. The company’s stock had a trading volume of 2,383,677 shares, compared to its average volume of 4,524,071. The stock’s fifty day simple moving average is $91.91 and its 200-day simple moving average is $82.98. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a market capitalization of $111.73 billion, a price-to-earnings ratio of 996.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

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

Gilead Sciences Announces Dividend

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

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.