Park National Corp OH Boosts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Park National Corp OH raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 55.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,813 shares of the biopharmaceutical company’s stock after purchasing an additional 2,071 shares during the period. Park National Corp OH’s holdings in Gilead Sciences were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Capital World Investors increased its stake in shares of Gilead Sciences by 2.0% in the fourth quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock worth $6,753,350,000 after purchasing an additional 1,642,736 shares in the last quarter. Capital Research Global Investors grew its stake in Gilead Sciences by 3.0% during the fourth quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock valued at $4,832,824,000 after acquiring an additional 1,743,418 shares in the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Morgan Stanley grew its stake in Gilead Sciences by 0.9% during the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock valued at $1,267,207,000 after acquiring an additional 158,794 shares in the last quarter. Finally, Norges Bank purchased a new position in Gilead Sciences during the fourth quarter valued at approximately $1,301,624,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GILD. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. Wells Fargo & Company dropped their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. UBS Group lowered their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $74.00 price objective on shares of Gilead Sciences in a report on Friday. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Gilead Sciences has an average rating of “Hold” and an average price target of $83.69.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.83 during trading on Tuesday, hitting $63.44. The company’s stock had a trading volume of 2,516,364 shares, compared to its average volume of 7,228,211. The company has a 50-day moving average of $65.92 and a 200-day moving average of $73.23. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The firm has a market cap of $79.04 billion, a price-to-earnings ratio of 178.53, a P/E/G ratio of 1.30 and a beta of 0.20.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

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.