Atlantic Union Bankshares Corp Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Atlantic Union Bankshares Corp decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 105,587 shares of the biopharmaceutical company’s stock after selling 2,789 shares during the period. Atlantic Union Bankshares Corp’s holdings in Gilead Sciences were worth $8,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new position in Gilead Sciences in the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its stake in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC boosted its holdings in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,735 shares of company stock worth $5,589,030 in the last quarter. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price for the company. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Piper Sandler upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Trading Up 1.2 %

GILD opened at $92.41 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The business’s 50 day moving average is $88.08 and its two-hundred day moving average is $77.52. The firm has a market cap of $115.17 billion, a price-to-earnings ratio of 1,026.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. On average, research analysts predict that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 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.