Bell Bank Sells 2,025 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Bell Bank lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,162 shares of the biopharmaceutical company’s stock after selling 2,025 shares during the quarter. Gilead Sciences comprises about 0.7% of Bell Bank’s investment portfolio, making the stock its 20th largest position. Bell Bank’s holdings in Gilead Sciences were worth $13,016,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 216 shares during the last quarter. Morton Brown Family Wealth LLC bought a new position in Gilead Sciences during the fourth quarter worth about $35,000. Whipplewood Advisors LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $35,000. Synergy Investment Management LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $40,000. Finally, Lee Danner & Bass Inc. bought a new position in Gilead Sciences during the 4th quarter worth approximately $41,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD opened at $110.83 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $105.82 and its 200 day simple moving average is $102.45. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year high of $119.96. The company has a market cap of $137.86 billion, a price-to-earnings ratio of 299.54, a PEG ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the previous year, the business earned ($1.32) EPS. Gilead Sciences’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Gilead Sciences’s dividend payout ratio is 66.53%.

Insiders Place Their Bets

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer now owns 620,268 shares in the company, valued at $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $4,630,310 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GILD. Bank of America increased their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price objective on the stock. Wells Fargo & Company lifted their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Finally, Oppenheimer dropped their price target on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.55.

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.