Arvest Bank Trust Division Buys New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Arvest Bank Trust Division bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 115,226 shares of the biopharmaceutical company's stock, valued at approximately $9,661,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 161 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the second quarter valued at about $33,000. Finally, Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 160 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of GILD remained flat at $92.38 during midday trading on Thursday. 5,776,163 shares of the stock traded hands, compared to its average volume of 7,066,539. The company's 50-day moving average is $89.65 and its 200 day moving average is $79.17. The stock has a market capitalization of $115.13 billion, a price-to-earnings ratio of 1,026.44, a PEG ratio of 2.86 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed 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. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's payout ratio is currently 3,422.22%.

Wall Street Analysts Forecast Growth

GILD has been the topic of several recent analyst reports. Oppenheimer lifted their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an "outperform" rating and a $105.00 target price for the company. Piper Sandler lifted their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $84.00 price target on shares of Gilead Sciences in a research note on Wednesday. Twelve research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.43.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 447,234 shares of company stock valued at $41,288,086 in the last quarter. 0.29% of the stock is owned by insiders.

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.