Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Brookmont Capital Management

Key Points

• Brookmont Capital Management reduced its stake in Gilead Sciences by 24.7%, now holding 38,491 shares valued at approximately $4.31 million, which represents 2.4% of its investment portfolio.
• In the latest quarter, multiple institutional investors, including Brighton Jones LLC, Bessemer Group Inc., and Scotia Capital Inc., increased their holdings in Gilead Sciences, reflecting strong investor interest.
• Gilead Sciences reported a quarterly EPS of $2.01, exceeding the consensus estimate, with revenue of $7.08 billion, marking a 1.4% increase compared to the same quarter last year.

Brookmont Capital Management trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,491 shares of the biopharmaceutical company's stock after selling 12,592 shares during the period. Gilead Sciences accounts for approximately 2.4% of Brookmont Capital Management's holdings, making the stock its 8th biggest position. Brookmont Capital Management's holdings in Gilead Sciences were worth $4,313,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GILD. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the stock from $108.00 to $127.00 in a research note on Friday. Royal Bank Of Canada increased their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday. UBS Group upped 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. 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. Finally, Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and an average price target of $114.82.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $8,984,175 in the last three months. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Up 8.3%

GILD stock traded up $9.13 during mid-day trading on Friday, reaching $119.41. The company had a trading volume of 13,112,190 shares, compared to its average volume of 5,807,634. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The company has a market capitalization of $148.54 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33. The firm has a fifty day simple moving average of $110.93 and a 200 day simple moving average of $107.53. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $121.38.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 51.45%. The business's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's payout ratio is currently 62.95%.

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.