First Citizens Bank & Trust Co. Has $1.28 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

20 Oct 2024, 13:43 by Doug Wharley · The Cerbat Gem

First Citizens Bank & Trust Co. boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,275 shares of the biopharmaceutical company’s stock after acquiring an additional 253 shares during the period. First Citizens Bank & Trust Co.’s holdings in Gilead Sciences were worth $1,281,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. boosted its holdings in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Gilead Sciences in the third quarter worth $25,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences during the 1st quarter worth about $29,000. Cedar Wealth Management LLC grew its stake in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the second quarter worth $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $86.72 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $81.06 and a two-hundred day moving average price of $72.81. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a market cap of $108.04 billion, a P/E ratio of 240.89, a PEG ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.55%. Gilead Sciences’s payout ratio is 855.56%.

Analyst Ratings Changes

A number of research firms recently commented on GILD. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. BMO Capital Markets boosted their price objective on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial lifted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.37.

Read Our Latest Analysis on Gilead Sciences

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences 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 transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is owned by corporate insiders.

About Gilead Sciences

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