Cadence Bank Acquires 3,800 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cadence Bank increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 122,969 shares of the biopharmaceutical company’s stock after buying an additional 3,800 shares during the period. Cadence Bank’s holdings in Gilead Sciences were worth $10,310,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at $25,328,000. Legal & General Group Plc lifted its holdings in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the last quarter. IRON Financial LLC bought a new position in Gilead Sciences during the third quarter worth about $830,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after purchasing an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Gilead Sciences by 127.6% in the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after purchasing an additional 119,909 shares during the period. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $91.35 on Wednesday. The stock has a market capitalization of $113.85 billion, a P/E ratio of 1,015.00, a price-to-earnings-growth ratio of 2.81 and a beta of 0.17. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The business’s 50 day simple moving average is $87.74 and its two-hundred day simple moving average is $77.31.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Gilead Sciences, Inc. will post 4.37 EPS for the current 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. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.37%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. UBS Group boosted their price objective on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Cantor Fitzgerald raised their target price on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.41.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,947 shares of company stock worth $4,968,674 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

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.