Allstate Corp Boosts Stake in Gilead Sciences, Inc. $GILD

Key Points

• Allstate Corp has increased its stake in Gilead Sciences, Inc. by 18.9%, now owning 44,034 shares valued at approximately $4.93 million as of the end of the first quarter.
• Gilead Sciences reported earnings of $2.01 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.79 per share, yielding about 2.7%.
• The company's stock is currently rated as a "Moderate Buy", with a price target averaging about $115.39, despite experiencing a 2.2% decrease in stock value recently.

Allstate Corp increased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 18.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 44,034 shares of the biopharmaceutical company's stock after acquiring an additional 6,986 shares during the period. Allstate Corp's holdings in Gilead Sciences were worth $4,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Redwood Financial Network Corp raised its position in Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares during the last quarter. Argentarii LLC boosted its holdings in shares of Gilead Sciences by 3.0% during the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after buying an additional 99 shares in the last quarter. Peak Financial Advisors LLC raised its stake in Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares during the period. Perkins Coie Trust Co raised its stake in Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after buying an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. raised its stake in Gilead Sciences by 33.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 100 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Down 2.2%

Shares of NASDAQ GILD opened at $116.14 on Friday. Gilead Sciences, Inc. has a 12-month low of $75.35 and a 12-month high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $144.11 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33. The stock's fifty day simple moving average is $112.41 and its two-hundred day simple moving average is $108.90.

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

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's payout ratio is currently 62.95%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer directly owned 160,110 shares in the company, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the sale, the director directly owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,000 shares of company stock valued at $9,339,230. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on GILD shares. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a report on Friday, July 25th. Oppenheimer lowered their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price target for the stock from $108.00 to $127.00 in a research note on Friday, August 8th. UBS Group upped their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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