APG Asset Management N.V. Sells 196,517 Shares of Gilead Sciences, Inc. $GILD

Key Points

• APG Asset Management N.V. reduced its holdings in Gilead Sciences, Inc. by 16.0%, selling 196,517 shares, and now owns approximately $107.18 million worth of the stock.
• Analyst upgrades for Gilead Sciences include a target price increase from $96.00 to $98.00 by Royal Bank of Canada, and a raise to $127.00 by Truist Financial, indicating a positive outlook for the stock.
• Gilead Sciences declared a quarterly dividend of $0.79 per share, payable on September 29th, offering investors a dividend yield of 2.8%.

APG Asset Management N.V. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,033,252 shares of the biopharmaceutical company's stock after selling 196,517 shares during the quarter. APG Asset Management N.V. owned approximately 0.08% of Gilead Sciences worth $107,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in Gilead Sciences by 9.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 10,819 shares of the biopharmaceutical company's stock worth $1,210,000 after buying an additional 958 shares during the period. Resolute Capital Asset Partners LLC acquired a new position in Gilead Sciences during the 1st quarter worth about $4,482,000. Groupe la Francaise acquired a new position in Gilead Sciences during the 1st quarter worth about $252,000. Sax Wealth Advisors LLC acquired a new position in Gilead Sciences during the 1st quarter worth about $248,000. Finally, Allstate Corp lifted its holdings in Gilead Sciences by 18.9% during the 1st quarter. Allstate Corp now owns 44,034 shares of the biopharmaceutical company's stock worth $4,934,000 after buying an additional 6,986 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 0.5%

GILD stock traded down $0.62 during trading on Monday, reaching $114.15. 3,812,165 shares of the stock were exchanged, compared to its average volume of 6,667,523. The firm's 50 day moving average is $112.57 and its 200 day moving average is $109.28. Gilead Sciences, Inc. has a twelve month low of $76.42 and a twelve 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 firm has a market cap of $141.64 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.33.

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

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

GILD has been the topic of several recent research reports. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a report on Tuesday, August 19th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research note on Friday, July 25th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the company from $108.00 to $127.00 in a research note on Friday, August 8th. UBS Group boosted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada boosted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $115.39.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the business'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 transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $3,318,840.00. Following the sale, the insider directly owned 114,168 shares of the company's stock, valued at $13,532,333.04. This represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,000 shares of company stock valued at $9,339,230. Company insiders own 0.27% of the company's stock.

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.