Fifth Third Bancorp Sells 574 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Fifth Third Bancorp decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,094 shares of the biopharmaceutical company’s stock after selling 574 shares during the quarter. Fifth Third Bancorp’s holdings in Gilead Sciences were worth $27,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GILD. FMR LLC lifted its holdings in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the period. Wellington Management Group LLP lifted its stake in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Gilead Sciences by 350.1% during the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after purchasing an additional 1,793,145 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after purchasing an additional 1,622,806 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Gilead Sciences by 159.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,337,717 shares of the biopharmaceutical company’s stock valued at $195,994,000 after purchasing an additional 1,437,842 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock opened at $93.07 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm has a market cap of $115.99 billion, a price-to-earnings ratio of 1,034.11, a PEG ratio of 1.31 and a beta of 0.18. The company’s fifty day simple moving average is $91.74 and its 200 day simple moving average is $84.86. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the business earned $2.29 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock worth $42,130,461 in the last quarter. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Oppenheimer lifted their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Barclays upped 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 report on Thursday, November 7th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Piper Sandler upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.96.

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.