Callan Family Office LLC Takes Position in Gilead Sciences, Inc. $GILD

Key Points

• Callan Family Office bought 101,450 Gilead Sciences shares worth approximately $12.8 million in the second quarter. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly revenue of $7.80 billion, up 10.6% year over year, and exceeded analysts’ EPS expectations. The stock opened at $146.12, while analysts maintain a “Moderate Buy” consensus rating with a $158.04 average price target.
• Gilead declared a quarterly dividend of $0.82 per share, equating to $3.28 annually and a 2.2% yield. Company insiders sold 87,000 shares worth approximately $11.6 million during the last quarter.

Callan Family Office LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 101,450 shares of the biopharmaceutical company's stock, valued at approximately $12,817,000.

Several other institutional investors have also recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC raised its holdings in Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 85 shares during the period. Quattro Advisors LLC purchased a new stake in Gilead Sciences in the 4th quarter valued at about $26,000. Finally, Wealth Preservation Advisors LLC lifted its position in Gilead Sciences by 60.0% in the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Up 1.9%

Shares of NASDAQ:GILD opened at $146.12 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The firm's 50-day moving average is $131.97 and its two-hundred day moving average is $136.59. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business had revenue of $7.80 billion for the quarter, compared to analysts' expectations of $7.40 billion. During the same quarter in the prior year, the company earned $2.01 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post -0.51 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences's dividend payout ratio is -122.85%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the transaction, the chief executive officer owned 592,133 shares of the company's stock, valued at $77,160,851.23. This trade represents a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the transaction, the director owned 10,066 shares of the company's stock, valued at approximately $1,459,771.32. This trade represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 87,000 shares of company stock valued at $11,562,960 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GILD. Truist Financial lowered their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Barclays reduced their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. HSBC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Morgan Stanley dropped their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Finally, Daiwa Securities Group cut their target price on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 19th. Twenty-four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $158.04.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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