Gilead Sciences, Inc. $GILD Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Gilead Sciences by 92.1%, acquiring an additional 189,569 shares, bringing its total holdings to 395,480 shares valued at approximately $44.3 million.
• Other hedge funds have also significantly increased their investments in Gilead, including Price T Rowe Associates which raised holdings by 314.6%, totaling over $1.6 billion in value.
• Gilead recently reported earnings surpassing estimates, with $2.01 EPS for the quarter and a revenue of $7.08 billion, reflecting a 1.4% year-over-year growth.

Acadian Asset Management LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 395,480 shares of the biopharmaceutical company's stock after purchasing an additional 189,569 shares during the period. Acadian Asset Management LLC's holdings in Gilead Sciences were worth $44,300,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after buying an additional 1,942,433 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Gilead Sciences by 314.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock valued at $1,647,484,000 after purchasing an additional 11,156,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gilead Sciences by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company's stock valued at $1,541,302,000 after purchasing an additional 1,520,809 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Gilead Sciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock valued at $1,130,117,000 after acquiring an additional 1,605,730 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Gilead Sciences by 30.1% in the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after acquiring an additional 2,005,863 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director directly owned 8,920 shares of the company's stock, valued at approximately $978,880.80. The trade was a 35.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the sale, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,000 shares of company stock valued at $9,371,330. Insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 2.8%

Shares of GILD stock traded down $3.31 during trading hours on Friday, reaching $114.55. The company had a trading volume of 6,466,956 shares, compared to its average volume of 5,830,447. Gilead Sciences, Inc. has a 12 month low of $81.57 and a 12 month high of $121.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The business has a fifty day simple moving average of $114.04 and a 200-day simple moving average of $110.09. The company has a market cap of $142.13 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 0.80 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter last year, the company posted $2.01 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's payout ratio is currently 62.95%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GILD. Dbs Bank upgraded shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target on the stock in a research report on Tuesday, August 19th. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. UBS Group upped their price target on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the company from $108.00 to $127.00 in a report on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $115.39.

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.