Community Bank N.A. Sells 1,900 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Community Bank N.A. cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 21.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,078 shares of the biopharmaceutical company’s stock after selling 1,900 shares during the quarter. Community Bank N.A.’s holdings in Gilead Sciences were worth $593,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GILD. Massmutual Trust Co. FSB ADV grew its position in Gilead Sciences by 72.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,487 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 1,887 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Gilead Sciences by 24.1% in the second quarter. Mather Group LLC. now owns 13,157 shares of the biopharmaceutical company’s stock valued at $964,000 after acquiring an additional 2,556 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Gilead Sciences by 90.6% during the second quarter. Kingswood Wealth Advisors LLC now owns 21,906 shares of the biopharmaceutical company’s stock valued at $1,503,000 after acquiring an additional 10,412 shares during the last quarter. CWM LLC lifted its holdings in Gilead Sciences by 4.4% during the second quarter. CWM LLC now owns 391,832 shares of the biopharmaceutical company’s stock worth $26,884,000 after acquiring an additional 16,616 shares during the period. Finally, Foundation Resource Management Inc. boosted its position in Gilead Sciences by 0.7% in the second quarter. Foundation Resource Management Inc. now owns 207,133 shares of the biopharmaceutical company’s stock worth $14,211,000 after purchasing an additional 1,447 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.6 %

Shares of Gilead Sciences stock opened at $94.02 on Tuesday. The company’s 50-day moving average price is $88.26 and its 200-day moving average price is $77.84. The company has a market cap of $117.17 billion, a price-to-earnings ratio of 1,044.67, a PEG ratio of 2.87 and a beta of 0.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. 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 (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. On average, equities analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GILD. BMO Capital Markets raised their target price on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Piper Sandler boosted their target price 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. Citigroup began coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Finally, The Goldman Sachs Group upped their price objective on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,946 shares of company stock worth $20,683,305 in the last ninety days. 0.29% of the stock is currently owned by insiders.

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.