First Hawaiian Bank boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 20.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,187 shares of the biopharmaceutical company’s stock after acquiring an additional 9,611 shares during the quarter. First Hawaiian Bank’s holdings in Gilead Sciences were worth $4,330,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd boosted its position in Gilead Sciences by 15.7% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 6,751 shares of the biopharmaceutical company’s stock worth $520,000 after acquiring an additional 916 shares during the period. Modus Advisors LLC boosted its position in Gilead Sciences by 9.5% during the 2nd quarter. Modus Advisors LLC now owns 5,646 shares of the biopharmaceutical company’s stock worth $435,000 after acquiring an additional 491 shares during the period. DGS Capital Management LLC boosted its position in Gilead Sciences by 2.0% during the 1st quarter. DGS Capital Management LLC now owns 6,570 shares of the biopharmaceutical company’s stock worth $545,000 after acquiring an additional 131 shares during the period. ORG Partners LLC acquired a new stake in Gilead Sciences during the 1st quarter worth about $5,570,000. Finally, ProShare Advisors LLC boosted its position in Gilead Sciences by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 1,331,271 shares of the biopharmaceutical company’s stock worth $110,456,000 after acquiring an additional 111,328 shares during the period. 82.33% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GILD has been the subject of several research reports. StockNews.com assumed coverage on Gilead Sciences in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. Cantor Fitzgerald reduced their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. HSBC started coverage on shares of Gilead Sciences in a research note on Wednesday, September 6th. They issued a “reduce” rating and a $71.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Gilead Sciences from $83.00 to $84.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Finally, Morgan Stanley lifted their target price on shares of Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.05.
Insider Activity at Gilead Sciences
In related news, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total value of $115,561.99. Following the sale, the insider now owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now directly owns 107,587 shares in the company, valued at $8,606,960. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Merdad Parsey sold 1,501 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total transaction of $115,561.99. Following the completion of the transaction, the insider now owns 70,130 shares in the company, valued at $5,399,308.70. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
Gilead Sciences Stock Performance
Shares of NASDAQ:GILD traded up $0.26 on Thursday, hitting $77.57. 2,374,092 shares of the company were exchanged, compared to its average volume of 5,764,184. The company’s 50 day moving average price is $77.23 and its two-hundred day moving average price is $78.86. Gilead Sciences, Inc. has a one year low of $61.44 and a one year high of $89.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.91 and a current ratio of 1.02. The firm has a market capitalization of $96.65 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.83 and a beta of 0.37.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.30). The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.45 billion. Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 EPS. Research analysts expect that Gilead Sciences, Inc. will post 6.63 earnings per share for the current year.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a $0.75 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.87%. Gilead Sciences’s payout ratio is currently 68.97%.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.