Grove Bank & Trust Sells 158 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

15 Oct 2024, 10:56 by Danessa Lincoln · The Markets Daily

Grove Bank & Trust trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,027 shares of the biopharmaceutical company’s stock after selling 158 shares during the quarter. Grove Bank & Trust’s holdings in Gilead Sciences were worth $170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC purchased a new position in shares of Gilead Sciences during the second quarter valued at $25,328,000. Legal & General Group Plc boosted its stake in shares of Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares in the last quarter. GSA Capital Partners LLP bought a new position in Gilead Sciences in the first quarter worth approximately $462,000. Brookstone Capital Management lifted its holdings in Gilead Sciences by 751.1% during the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock worth $9,322,000 after buying an additional 112,305 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Gilead Sciences by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after acquiring an additional 33,162 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 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GILD. Royal Bank of Canada upped their price objective on Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Monday, July 8th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.83.

Check Out Our Latest Research Report on Gilead Sciences

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $85.05 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company’s 50 day moving average is $80.07 and its 200 day moving average is $72.42. The company has a market cap of $105.96 billion, a PE ratio of 236.25, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.62%. Gilead Sciences’s payout ratio is 855.56%.

About Gilead Sciences

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