First PREMIER Bank Sells 1,113 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

First PREMIER Bank trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.7% in the second quarter, Holdings Channel reports. The institutional investor owned 8,392 shares of the biopharmaceutical company’s stock after selling 1,113 shares during the period. First PREMIER Bank’s holdings in Gilead Sciences were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $29,000. Palisade Asset Management LLC bought a new stake in Gilead Sciences in the 1st quarter valued at about $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth approximately $30,000. Rakuten Securities Inc. bought a new position in shares of Gilead Sciences in the fourth quarter valued at $33,000. Finally, Gladius Capital Management LP acquired a new position in Gilead Sciences during the 4th quarter valued at about $34,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Up 0.3 %

GILD stock traded up $0.20 during midday trading on Thursday, reaching $74.34. 5,194,900 shares of the company were exchanged, compared to its average volume of 7,335,189. The stock’s 50-day simple moving average is $70.62 and its 200 day simple moving average is $70.35. The company has a market cap of $92.62 billion, a price-to-earnings ratio of 206.50, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

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 in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GILD. Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. UBS Group reduced their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Morgan Stanley dropped their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.94.

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.