DAVENPORT & Co LLC Sells 16,332 Shares of Gilead Sciences, Inc. $GILD

Key Points

• DAVENPORT & Co LLC decreased its holdings in Gilead Sciences, Inc. by 27.3%, selling 16,332 shares during the second quarter, leaving them with 43,587 shares valued at approximately $4.83 million.
• Gilead Sciences recently announced a quarterly dividend of $0.79, which equates to an annualized dividend of $3.16 and a yield of 2.7%.
• Analysts have raised their ratings on Gilead, with several firms giving it new price targets, including a revision by Truist Financial from $108 to $127.

DAVENPORT & Co LLC reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 27.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,587 shares of the biopharmaceutical company's stock after selling 16,332 shares during the quarter. DAVENPORT & Co LLC's holdings in Gilead Sciences were worth $4,832,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GILD. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences in the first quarter worth about $25,000. Activest Wealth Management increased its holdings in shares of Gilead Sciences by 2,837.5% in the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 227 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences in the first quarter worth about $29,000. Colonial Trust Advisors increased its holdings in shares of Gilead Sciences by 304.3% in the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 213 shares in the last quarter. Finally, Core Alternative Capital boosted its position in shares of Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 241 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $111.66, for a total value of $1,116,600.00. Following the completion of the sale, the chief executive officer directly owned 591,203 shares of the company's stock, valued at $66,013,726.98. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $113.57, for a total value of $340,710.00. Following the completion of the sale, the insider directly owned 113,193 shares of the company's stock, valued at approximately $12,855,329.01. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $9,402,130 over the last three months. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GILD. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada upped their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gilead Sciences in a research report on Saturday, September 27th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Finally, Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.17.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $116.78 on Wednesday. The stock has a 50 day moving average price of $114.41 and a 200 day moving average price of $110.06. Gilead Sciences, Inc. has a 52 week low of $84.17 and a 52 week 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 $144.90 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 0.77 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS 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 analysts' expectations of $6.95 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The business's quarterly 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. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is presently 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.

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