Berkshire Bank Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Berkshire Bank raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,398 shares of the biopharmaceutical company’s stock after buying an additional 111 shares during the quarter. Berkshire Bank’s holdings in Gilead Sciences were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its position in shares of Gilead Sciences by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 63,082 shares of the biopharmaceutical company’s stock worth $5,827,000 after purchasing an additional 13,417 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in Gilead Sciences by 97.2% in the 4th quarter. Valued Wealth Advisors LLC now owns 629 shares of the biopharmaceutical company’s stock worth $58,000 after buying an additional 310 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Gilead Sciences by 723.3% in the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after buying an additional 5,653,075 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at $200,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Gilead Sciences during the 4th quarter worth $1,546,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Trading Up 2.4 %

Shares of NASDAQ GILD opened at $95.35 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The firm has a 50-day moving average of $91.74 and a 200 day moving average of $85.09. The stock has a market cap of $118.83 billion, a P/E ratio of 1,059.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the business earned $2.29 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 456,234 shares of company stock valued at $42,130,461. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research reports. Robert W. Baird raised their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Finally, Oppenheimer increased their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.96.

Gilead Sciences Company 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.