Truist Financial Corp Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Truist Financial Corp reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,735 shares of the biopharmaceutical company’s stock after selling 17,375 shares during the period. Truist Financial Corp’s holdings in Gilead Sciences were worth $34,152,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GILD. FMR LLC lifted its position in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 worth $2,900,921,000 after acquiring an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. raised its stake in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Gilead Sciences by 8,238.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the sale, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 710,500 shares of company stock valued at $67,684,956. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of several research analyst reports. Robert W. Baird lifted their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. UBS Group lifted their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Mizuho lifted 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. Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.08.

Gilead Sciences Stock Up 1.1 %

GILD stock opened at $105.25 on Wednesday. The company has a market cap of $131.17 billion, a P/E ratio of 1,169.44, a P/E/G ratio of 1.25 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $106.69. The company’s 50-day moving average price is $94.14 and its 200 day moving average price is $87.89. 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 released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. On average, research analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 3.00%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 3,422.22%.

Gilead Sciences Profile

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.