ARGA Investment Management LP Trims Position in Gilead Sciences, Inc. $GILD

Key Points

• ARGA Investment Management LP has reduced its stake in Gilead Sciences, Inc. by 20.5%, holding 14,009 shares after selling 3,610 shares during the second quarter, valued at approximately $1.55 million.
• Gilead Sciences recently announced a quarterly dividend of $0.79 per share, translating to an annualized dividend yield of 2.6%, with a payout ratio of 62.95%.
• Despite the recent selloff by some insiders, including CFO Andrew D. Dickinson, analysts have a consensus rating of "Moderate Buy" for Gilead Sciences with a price target averaging $122.61.

ARGA Investment Management LP decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 20.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,009 shares of the biopharmaceutical company's stock after selling 3,610 shares during the quarter. ARGA Investment Management LP's holdings in Gilead Sciences were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GILD. GLOBALT Investments LLC GA raised its stake in Gilead Sciences by 2.5% during the second quarter. GLOBALT Investments LLC GA now owns 49,422 shares of the biopharmaceutical company's stock worth $5,479,000 after purchasing an additional 1,195 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $34,000. Asset Management One Co. Ltd. raised its position in shares of Gilead Sciences by 1.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 713,477 shares of the biopharmaceutical company's stock valued at $79,103,000 after buying an additional 8,850 shares during the period. R Squared Ltd lifted its holdings in Gilead Sciences by 112.5% in the second quarter. R Squared Ltd now owns 13,367 shares of the biopharmaceutical company's stock valued at $1,482,000 after acquiring an additional 7,077 shares during the last quarter. Finally, AlTi Global Inc. grew its position in Gilead Sciences by 12.1% in the second quarter. AlTi Global Inc. now owns 4,140 shares of the biopharmaceutical company's stock worth $459,000 after acquiring an additional 446 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $118.08, for a total transaction of $295,200.00. Following the completion of the transaction, the chief financial officer directly owned 157,055 shares of the company's stock, valued at $18,545,054.40. The trade was a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction dated 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 owned 114,168 shares in the company, valued at approximately $13,532,333.04. This trade represents a 19.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,500 shares of company stock worth $8,281,540. Company insiders own 0.27% of the company's stock.

Gilead Sciences Trading Down 0.6%

NASDAQ GILD opened at $120.74 on Friday. The firm has a 50 day simple moving average of $115.41 and a 200-day simple moving average of $110.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. Gilead Sciences, Inc. has a one year low of $86.08 and a one year high of $124.61. The firm has a market cap of $149.82 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.83 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm 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 firm 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. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analysts Forecast Growth

GILD has been the topic of several recent analyst reports. TD Cowen upped their price target on Gilead Sciences from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gilead Sciences in a research report on Wednesday, October 8th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research note on Friday, July 25th. Royal Bank Of Canada boosted their price target on shares of Gilead Sciences from $98.00 to $100.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 8th. Finally, UBS Group increased their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $122.61.

Gilead Sciences Company 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.

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