Central Pacific Bank Trust Division Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Central Pacific Bank Trust Division bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,083 shares of the biopharmaceutical company’s stock, valued at approximately $1,026,000.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Gilead Sciences by 2.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 45,728 shares of the biopharmaceutical company’s stock valued at $3,350,000 after buying an additional 1,072 shares during the period. Mutual Advisors LLC boosted its holdings in Gilead Sciences by 23.8% in the first quarter. Mutual Advisors LLC now owns 34,560 shares of the biopharmaceutical company’s stock valued at $2,532,000 after acquiring an additional 6,654 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Gilead Sciences by 11.6% in the first quarter. Financial Counselors Inc. now owns 9,892 shares of the biopharmaceutical company’s stock valued at $725,000 after acquiring an additional 1,030 shares during the last quarter. Shoker Investment Counsel Inc. boosted its holdings in Gilead Sciences by 2.6% in the first quarter. Shoker Investment Counsel Inc. now owns 19,301 shares of the biopharmaceutical company’s stock valued at $1,407,000 after acquiring an additional 493 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in Gilead Sciences in the first quarter valued at approximately $1,561,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a report on Wednesday, April 24th. Barclays cut their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Morgan Stanley cut their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Maxim Group cut their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Hold” and a consensus price target of $84.00.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Gilead Sciences Stock Performance

Shares of GILD stock traded up $0.21 on Tuesday, hitting $67.76. 5,364,141 shares of the stock were exchanged, compared to its average volume of 7,527,124. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The firm’s 50 day moving average is $66.12 and its two-hundred day moving average is $71.99. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $84.42 billion, a PE ratio of 186.58, a P/E/G ratio of 2.83 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.37 EPS. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.55%. Gilead Sciences’s dividend payout ratio is 855.56%.

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.