Candriam S.C.A. Lowers Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Candriam S.C.A. decreased its holdings in Gilead Sciences, Inc. by 8.6%, selling 148,872 shares and lowering its ownership to roughly 1.1% of the company's stock.
• Institutional investors now own 83.67% of Gilead Sciences' stock, with notable increases in holdings reported by Nuveen LLC and GAMMA Investing LLC.
• Gilead Sciences reported earnings of $2.01 per share for the last quarter, surpassing estimates and indicating a 1.4% revenue increase compared to the previous year.

Candriam S.C.A. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,574,444 shares of the biopharmaceutical company's stock after selling 148,872 shares during the period. Gilead Sciences accounts for about 1.1% of Candriam S.C.A.'s investment portfolio, making the stock its 17th biggest position. Candriam S.C.A. owned approximately 0.13% of Gilead Sciences worth $176,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GILD. Nuveen LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $620,415,000. GAMMA Investing LLC boosted its holdings in shares of Gilead Sciences by 13,891.1% in the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after purchasing an additional 2,532,070 shares during the period. Northern Trust Corp boosted its position in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after acquiring an additional 2,458,954 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Gilead Sciences by 422.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after acquiring an additional 2,040,261 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Gilead Sciences by 30.1% during the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after acquiring an additional 2,005,863 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares in the company, valued at $18,054,588.30. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock valued at $12,349,790. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Royal Bank Of Canada increased 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. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their target price for the company from $108.00 to $127.00 in a research report on Friday, August 8th. Morgan Stanley increased their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target of $115.39.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $117.98 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a twelve month low of $74.34 and a twelve month high of $121.83. The business has a 50-day moving average price of $112.14 and a 200 day moving average price of $108.71. The firm has a market cap of $146.39 billion, a PE ratio of 23.50, a P/E/G ratio of 0.72 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the previous year, the business earned $2.01 EPS. Gilead Sciences's revenue for the quarter was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is presently 62.95%.

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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