Cadence Bank Purchases 3,800 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cadence Bank boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,969 shares of the biopharmaceutical company’s stock after acquiring an additional 3,800 shares during the period. Cadence Bank’s holdings in Gilead Sciences were worth $10,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Avior Wealth Management LLC grew its holdings in shares of Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares in the last quarter. Concord Asset Management LLC VA lifted its position in Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the period. TFB Advisors LLC grew its stake in Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the period. Finally, FDx Advisors Inc. lifted its holdings in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,947 shares of company stock worth $4,968,674 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Up 1.0 %

NASDAQ GILD opened at $91.35 on Wednesday. The stock has a market capitalization of $113.85 billion, a P/E ratio of 1,015.00, a P/E/G ratio of 2.81 and a beta of 0.17. The business has a 50 day simple moving average of $87.74 and a 200 day simple moving average of $77.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 EPS. Research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend yield of 3.37%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GILD. Cantor Fitzgerald lifted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler lifted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein started coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Oppenheimer boosted their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.41.

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.