Whittier Trust Co. Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Whittier Trust Co. reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,012 shares of the biopharmaceutical company’s stock after selling 2,899 shares during the quarter. Whittier Trust Co.’s holdings in Gilead Sciences were worth $3,297,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tompkins Financial Corp raised its position in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences in the 4th quarter valued at approximately $29,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Finally, Sachetta LLC acquired a new position in Gilead Sciences during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of analyst reports. Maxim Group decreased their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research note on Wednesday, April 24th. Morgan Stanley reduced their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.00.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Up 0.3 %

NASDAQ:GILD traded up $0.21 on Tuesday, reaching $67.76. The stock had a trading volume of 5,364,141 shares, compared to its average volume of 7,527,124. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The company has a market cap of $84.42 billion, a price-to-earnings ratio of 186.58, a P/E/G ratio of 2.83 and a beta of 0.18. The firm’s fifty day moving average is $66.12 and its two-hundred day moving average is $71.99. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.