Bank Pictet & Cie Europe AG Takes $281,000 Position in Gilead Sciences, Inc. $GILD

Key Points

• Bank Pictet & Cie Europe AG has acquired a new stake in Gilead Sciences, purchasing 2,536 shares valued at approximately $281,000.
• Gilead announced a quarterly dividend of $0.79 per share with a yield of 2.8%, to be paid on September 29th.
• Several analysts have upgraded their ratings for Gilead Sciences, with target prices reaching as high as $143.00, reflecting positive sentiment in the market.

Bank Pictet & Cie Europe AG acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,536 shares of the biopharmaceutical company's stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ariel Investments LLC increased its position in shares of Gilead Sciences by 7.7% during the first quarter. Ariel Investments LLC now owns 430,424 shares of the biopharmaceutical company's stock valued at $48,229,000 after purchasing an additional 30,630 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Gilead Sciences by 14.5% during the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after buying an additional 109 shares during the period. Swedbank AB lifted its position in shares of Gilead Sciences by 0.8% during the 1st quarter. Swedbank AB now owns 2,118,632 shares of the biopharmaceutical company's stock worth $237,393,000 after buying an additional 16,663 shares during the period. Covea Finance lifted its position in shares of Gilead Sciences by 69.5% during the 2nd quarter. Covea Finance now owns 51,700 shares of the biopharmaceutical company's stock worth $5,732,000 after buying an additional 21,200 shares during the period. Finally, Focus Partners Wealth lifted its position in shares of Gilead Sciences by 21.2% during the 1st quarter. Focus Partners Wealth now owns 142,666 shares of the biopharmaceutical company's stock worth $15,986,000 after buying an additional 24,930 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Up 1.0%

Shares of NASDAQ GILD opened at $112.10 on Friday. Gilead Sciences, Inc. has a 12-month low of $82.82 and a 12-month high of $121.83. The firm's 50-day simple moving average is $114.41 and its 200 day simple moving average is $109.95. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The company has a market cap of $139.09 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.75 and a beta of 0.36.

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 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 company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The company's revenue was up 1.4% on a year-over-year basis. 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 Announces Dividend

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

Insider Transactions at Gilead Sciences

In other 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 sale, the chief financial officer directly owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were 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 in the company, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $9,390,030 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GILD shares. Rothschild & Co Redburn raised their target price on Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada raised their target price on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Finally, UBS Group raised their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.17.

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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