Bank of Hawaii Decreases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Bank of Hawaii reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.5% during the third quarter, HoldingsChannel reports. The firm owned 8,985 shares of the biopharmaceutical company’s stock after selling 1,162 shares during the quarter. Bank of Hawaii’s holdings in Gilead Sciences were worth $753,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in Gilead Sciences by 1.2% in the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after acquiring an additional 108 shares in the last quarter. Concord Asset Management LLC VA raised its stake in shares of Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC lifted its position in shares of Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. raised its stake in Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 117 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Cantor Fitzgerald lifted their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays increased their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, Citigroup initiated coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Up 0.3 %

Shares of GILD stock opened at $90.49 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market cap of $112.77 billion, a PE ratio of 1,005.44, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. The business’s fifty day moving average is $87.58 and its 200-day moving average is $77.13. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the previous year, the business earned $2.29 earnings per share. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.29% of the company’s stock.

About Gilead Sciences

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.