SouthState Corp Sells 1,649 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

SouthState Corp reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,361 shares of the biopharmaceutical company’s stock after selling 1,649 shares during the period. SouthState Corp’s holdings in Gilead Sciences were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Swedbank AB increased its position in Gilead Sciences by 10.2% during the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock valued at $171,672,000 after buying an additional 189,622 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Gilead Sciences by 18.1% in the third quarter. Natixis Advisors LLC now owns 169,363 shares of the biopharmaceutical company’s stock worth $14,199,000 after acquiring an additional 25,912 shares during the last quarter. Claro Advisors LLC raised its position in shares of Gilead Sciences by 16.1% in the 3rd quarter. Claro Advisors LLC now owns 8,555 shares of the biopharmaceutical company’s stock worth $717,000 after purchasing an additional 1,187 shares during the last quarter. TrinityPoint Wealth LLC raised its position in shares of Gilead Sciences by 658.5% in the 3rd quarter. TrinityPoint Wealth LLC now owns 43,606 shares of the biopharmaceutical company’s stock worth $3,656,000 after purchasing an additional 37,857 shares during the last quarter. Finally, Aljian Capital Management LLC bought a new position in Gilead Sciences in the 3rd quarter worth about $479,000. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GILD. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer boosted their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Thursday, February 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $104.52.

Gilead Sciences Trading Up 0.7 %

Gilead Sciences stock opened at $112.26 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. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96. The firm has a market capitalization of $139.80 billion, a price-to-earnings ratio of 303.41, a P/E/G ratio of 0.71 and a beta of 0.21. The firm has a 50 day moving average of $102.24 and a 200 day moving average of $93.16.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. Gilead Sciences’s dividend payout ratio is 854.05%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 17,929 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the completion of the transaction, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at approximately $19,977,938.37. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 302,785 shares of company stock worth $30,503,250. 0.16% of the stock is owned by corporate insiders.

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.