Citizens Business Bank Purchases 301 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Citizens Business Bank boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,222 shares of the biopharmaceutical company’s stock after purchasing an additional 301 shares during the period. Citizens Business Bank’s holdings in Gilead Sciences were worth $423,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp raised its stake in shares of 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 purchasing an additional 241 shares during the period. OFI Invest Asset Management purchased a new stake in Gilead Sciences during the third quarter worth about $26,000. Fortitude Family Office LLC bought a new stake in Gilead Sciences in the fourth quarter worth about $29,000. Rakuten Securities Inc. bought a new position in shares of Gilead Sciences during the 4th quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $40,000. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on GILD shares. Wells Fargo & Company dropped their price objective on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Royal Bank of Canada decreased their price objective on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a report on Friday. Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Barclays lowered their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, TD Cowen cut their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.60.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD traded down $0.74 during trading hours on Tuesday, reaching $65.20. 7,433,077 shares of the company’s stock traded hands, compared to its average volume of 7,480,851. Gilead Sciences, Inc. has a 12 month low of $64.63 and a 12 month high of $87.86. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The stock has a market cap of $81.18 billion, a PE ratio of 181.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19. The firm’s 50 day simple moving average is $71.16 and its 200-day simple moving average is $76.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results 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 during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post 3.82 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.72%. Gilead Sciences’s payout ratio is 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.