Montecito Bank & Trust Sells 1,033 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Montecito Bank & Trust reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 16.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,291 shares of the biopharmaceutical company’s stock after selling 1,033 shares during the quarter. Montecito Bank & Trust’s holdings in Gilead Sciences were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. GSA Capital Partners LLP bought a new position in shares of Gilead Sciences during the first quarter valued at $462,000. Envestnet Portfolio Solutions Inc. increased its position in Gilead Sciences by 31.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 112,743 shares of the biopharmaceutical company’s stock valued at $8,258,000 after acquiring an additional 27,211 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Gilead Sciences during the first quarter valued at $573,000. AIA Group Ltd purchased a new stake in Gilead Sciences during the first quarter valued at $1,684,000. Finally, SG Americas Securities LLC increased its position in Gilead Sciences by 51.2% during the first quarter. SG Americas Securities LLC now owns 154,992 shares of the biopharmaceutical company’s stock valued at $11,353,000 after acquiring an additional 52,494 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock valued at $5,374,825 in the last ninety days. Insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $97.90 on Friday. The stock has a 50 day moving average of $84.58 and a 200 day moving average of $74.67. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.32. The firm has a market cap of $121.88 billion, a PE ratio of 119.39, a PEG ratio of 3.13 and a beta of 0.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. On average, research analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird upped their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. BMO Capital Markets upped their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences 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.