Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,955 shares of the biopharmaceutical company’s stock after selling 1,037 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Gilead Sciences were worth $834,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. boosted its stake in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the third quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the period. Cedar Wealth Management LLC grew its holdings in shares of Gilead Sciences by 51.6% during the second 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 Gilead Sciences in the 2nd quarter valued at about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 447,234 shares of company stock valued at $41,288,086. 0.16% of the stock is owned by insiders.

Gilead Sciences Stock Down 0.6 %

GILD stock opened at $91.86 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company’s 50 day simple moving average is $89.96 and its 200-day simple moving average is $79.67. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The firm has a market capitalization of $114.48 billion, a PE ratio of 1,020.61, a P/E/G ratio of 2.38 and a beta of 0.18.

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 firm had revenue of $7.55 billion for 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%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analyst Ratings Changes

A number of analysts have weighed in on GILD shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Robert W. Baird increased their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Bank of America reissued a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a research note on Tuesday, December 10th. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Mizuho boosted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.43.

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.