MidFirst Bank Makes New $810,000 Investment in Gilead Sciences, Inc. $GILD

MidFirst Bank acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,414 shares of the biopharmaceutical company’s stock, valued at approximately $810,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GILD. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the fourth quarter worth about $25,000. Persistent Asset Partners Ltd bought a new position in Gilead Sciences in the second quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC grew its stake in Gilead Sciences by 71.4% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Quattro Advisors LLC acquired a new position in shares of Gilead Sciences during the 4th quarter worth approximately $26,000. Finally, Wealth Preservation Advisors LLC increased its position in shares of Gilead Sciences by 60.0% during the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $123.92, for a total transaction of $371,760.00. Following the completion of the sale, the insider owned 124,234 shares of the company’s stock, valued at approximately $15,395,077.28. The trade was a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $131.46, for a total transaction of $1,971,900.00. Following the completion of the transaction, the chief executive officer owned 617,567 shares in the company, valued at approximately $81,185,357.82. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,000 shares of company stock worth $6,568,860 over the last ninety days. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GILD. Morgan Stanley cut their price objective on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Truist Financial lowered their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Rothschild & Co Redburn dropped their price target on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Leerink Partners cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and cut their price target for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.04.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $138.92 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29. The stock has a 50 day moving average of $130.33 and a 200-day moving average of $136.43. The company has a market capitalization of $172.25 billion, a P/E ratio of -52.03 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the firm earned $2.01 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Gilead Sciences, Inc. will post -0.53 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s payout ratio is currently -122.85%.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.