Belmont Capital LLC Lowers Position in Gilead Sciences, Inc. $GILD

Key Points

• Belmont Capital LLC significantly reduced its stake in Gilead Sciences by 60.9%, holding only 3,684 shares worth approximately $413,000.
• Insider trading activity revealed that CFO Andrew D. Dickinson and another insider sold a combined total of 30,500 shares of Gilead stock, indicating a notable decrease in their positions.
• Gilead Sciences recently declared a quarterly dividend of $0.79 per share, with a dividend yield of 2.8%, scheduled for payment on September 29th.

Belmont Capital LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 60.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,684 shares of the biopharmaceutical company's stock after selling 5,728 shares during the quarter. Belmont Capital LLC's holdings in Gilead Sciences were worth $413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Gilead Sciences in the 1st quarter valued at $25,000. Activest Wealth Management raised its position in Gilead Sciences by 2,837.5% in the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 227 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Gilead Sciences in the 1st quarter valued at $29,000. Colonial Trust Advisors raised its position in Gilead Sciences by 304.3% in the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 213 shares during the last quarter. Finally, Core Alternative Capital raised its position in Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 241 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm'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 $296,325.00. Following the completion of the transaction, the chief financial officer owned 160,110 shares in the company, valued at $18,977,838.30. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm'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 completion of the transaction, the insider owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $9,371,330 in the last 90 days. 0.27% of the stock is owned by company insiders.

Gilead Sciences Stock Down 0.2%

GILD stock opened at $112.71 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The company has a market capitalization of $139.85 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 0.70 and a beta of 0.36. Gilead Sciences, Inc. has a fifty-two week low of $77.74 and a fifty-two week high of $121.83. The stock has a fifty day moving average of $113.25 and a 200-day moving average of $109.74.

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 the consensus estimate of $1.96 by $0.05. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. UBS Group raised their target price on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada raised their target price on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price for the company in a research report on Tuesday, August 19th. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus 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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