M&T Bank Corp Purchases 5,943 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

M&T Bank Corp lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,952 shares of the biopharmaceutical company’s stock after buying an additional 5,943 shares during the period. M&T Bank Corp’s holdings in Gilead Sciences were worth $16,177,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. boosted its position in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new position in Gilead Sciences in the third quarter worth $25,000. Valued Wealth Advisors LLC boosted its position in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Cedar Wealth Management LLC boosted its position in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter worth $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 476,591 shares of company stock worth $43,747,615 in the last ninety days. 0.29% of the stock is owned by company insiders.

Gilead Sciences Price Performance

GILD opened at $92.34 on Wednesday. The stock has a 50-day moving average price of $89.33 and a 200-day moving average price of $78.89. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $115.08 billion, a P/E ratio of 1,026.00, a PEG ratio of 2.86 and a beta of 0.18.

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, topping 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 firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the business earned $2.29 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts predict that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Wolfe Research assumed coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target on the stock. Sanford C. Bernstein assumed coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target on the stock. Daiwa America raised Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

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.