First Western Trust Bank Sells 14,439 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

First Western Trust Bank cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,114 shares of the biopharmaceutical company’s stock after selling 14,439 shares during the quarter. First Western Trust Bank’s holdings in Gilead Sciences were worth $4,124,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GILD. Institute for Wealth Management LLC. increased its stake in Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 142 shares during the period. First Affirmative Financial Network increased its position in shares of Gilead Sciences by 3.5% during the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after purchasing an additional 147 shares during the period. Rathbones Group PLC raised its stake in shares of Gilead Sciences by 3.7% in the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 150 shares in the last quarter. MCF Advisors LLC lifted its position in Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 152 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in Gilead Sciences by 0.6% during the second quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock worth $1,826,000 after buying an additional 152 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 0.5 %

Shares of NASDAQ:GILD opened at $78.77 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a market cap of $98.14 billion, a P/E ratio of 218.81, a P/E/G ratio of 2.74 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company’s 50-day moving average price is $73.86 and its two-hundred day moving average price is $70.52.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. As a group, research analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.91%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was 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 directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction 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 sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Friday, August 9th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Twelve 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 stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $82.06.

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.