Covea Finance Grows Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Covea Finance has increased its stake in Gilead Sciences by 69.5% during Q2, owning 51,700 shares valued at approximately $5.73 million after purchasing an additional 21,200 shares.
• Gilead Sciences recently reported $2.01 earnings per share for the quarter, exceeding analyst expectations, and had a revenue of $7.08 billion, a 1.4% increase year-over-year.
• The company declared a quarterly dividend of $0.79 per share, with an annualized dividend yield of 2.8%, to be paid to stockholders on September 29th.

Covea Finance increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 69.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,700 shares of the biopharmaceutical company's stock after buying an additional 21,200 shares during the quarter. Covea Finance's holdings in Gilead Sciences were worth $5,732,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CGN Advisors LLC increased its holdings in Gilead Sciences by 1.4% in the 2nd quarter. CGN Advisors LLC now owns 26,544 shares of the biopharmaceutical company's stock valued at $2,943,000 after purchasing an additional 373 shares during the last quarter. Occidental Asset Management LLC increased its holdings in Gilead Sciences by 1.4% in the 2nd quarter. Occidental Asset Management LLC now owns 40,670 shares of the biopharmaceutical company's stock valued at $4,509,000 after purchasing an additional 551 shares during the last quarter. CHICAGO TRUST Co NA increased its holdings in Gilead Sciences by 25.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,900 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 597 shares during the last quarter. Oliver Luxxe Assets LLC increased its holdings in Gilead Sciences by 5.3% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 62,465 shares of the biopharmaceutical company's stock valued at $6,925,000 after purchasing an additional 3,156 shares during the last quarter. Finally, Chris Bulman Inc acquired a new stake in Gilead Sciences in the 2nd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $112.49 on Tuesday. The company has a 50-day simple moving average of $114.11 and a 200-day simple moving average of $109.95. Gilead Sciences, Inc. has a one year low of $81.83 and a one year high of $121.83. 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 stock has a market capitalization of $139.58 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.77 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) 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 business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The business's revenue 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. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is 62.95%.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider directly owned 114,168 shares in the company, valued at $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the transaction, the chief executive officer owned 595,725 shares in the company, valued at approximately $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,000 shares of company stock valued at $9,390,030. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on GILD shares. Dbs Bank upgraded shares of Gilead Sciences to a "moderate buy" rating in a research note on Friday, September 5th. Rothschild & Co Redburn boosted their price target on shares of Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a research note on Tuesday, August 19th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $108.00 to $127.00 in a research note on Friday, August 8th. Finally, Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.17.

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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