Comerica Bank Sells 13,799 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Comerica Bank has reduced its holdings in Gilead Sciences by 5.1%, selling 13,799 shares and now holding 258,836 shares valued at approximately $29 million.
• Gilead recently announced a quarterly dividend of $0.79 per share, equating to an annual yield of 2.8%, with the dividend payout date set for September 29.
• Analysts are optimistic about Gilead's growth, with ratings upgrading from "hold" to "strong-buy" and a consensus target price of $115.39.

Comerica Bank cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,836 shares of the biopharmaceutical company's stock after selling 13,799 shares during the quarter. Comerica Bank's holdings in Gilead Sciences were worth $29,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV grew its stake in shares of Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Gilead Sciences by 14.5% in the first 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. Mufg Securities Americas Inc. purchased a new stake in Gilead Sciences in the fourth quarter worth about $1,699,000. ASR Vermogensbeheer N.V. purchased a new stake in Gilead Sciences in the first quarter worth about $11,688,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Gilead Sciences by 4.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 292,966 shares of the biopharmaceutical company's stock worth $32,827,000 after buying an additional 13,194 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $114.77 on Monday. Gilead Sciences, Inc. has a twelve month low of $75.91 and a twelve month high of $121.83. The firm has a market cap of $142.41 billion, a P/E ratio of 22.86, a PEG ratio of 0.70 and a beta of 0.33. The company has a 50 day moving average of $112.51 and a 200 day moving average of $109.16. 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 (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $6.95 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction that occurred 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 completion of the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. The trade was a 35.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the completion of the sale, the insider directly owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This trade represents a 19.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock worth $9,339,230. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a report on Friday, July 25th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price for the company in a report on Tuesday, August 19th. Finally, Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $127.00 in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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