Freedom Investment Management Inc. boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 71.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,905 shares of the biopharmaceutical company's stock after buying an additional 7,894 shares during the period. Freedom Investment Management Inc.'s holdings in Gilead Sciences were worth $2,118,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Synovus Financial Corp boosted its stake in Gilead Sciences by 14.1% during the first quarter. Synovus Financial Corp now owns 19,786 shares of the biopharmaceutical company's stock worth $2,217,000 after buying an additional 2,452 shares during the last quarter. ICONIQ Capital LLC boosted its stake in Gilead Sciences by 20.5% during the first quarter. ICONIQ Capital LLC now owns 7,395 shares of the biopharmaceutical company's stock worth $829,000 after buying an additional 1,260 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Gilead Sciences during the first quarter worth $3,228,000. Oliver Luxxe Assets LLC boosted its stake in Gilead Sciences by 22.7% during the first quarter. Oliver Luxxe Assets LLC now owns 59,309 shares of the biopharmaceutical company's stock worth $6,646,000 after buying an additional 10,991 shares during the last quarter. Finally, Cadence Bank lifted its stake in shares of Gilead Sciences by 1.7% in the 1st quarter. Cadence Bank now owns 8,241 shares of the biopharmaceutical company's stock valued at $923,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.
Gilead Sciences Trading Down 0.7%
GILD traded down $0.83 during mid-day trading on Wednesday, hitting $113.92. 4,663,278 shares of the stock were exchanged, compared to its average volume of 6,572,293. The firm's fifty day moving average is $112.71 and its two-hundred day moving average is $109.32. Gilead Sciences, Inc. has a 1-year low of $77.23 and a 1-year high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The company has a market cap of $141.35 billion, a PE ratio of 22.69, a PEG ratio of 0.70 and a beta of 0.33.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the company earned $2.01 EPS. Gilead Sciences's revenue was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.8%. Gilead Sciences's dividend payout ratio is presently 62.95%.
Insider Transactions at Gilead Sciences
In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated 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 transaction, the insider owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the sale, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $9,339,230 in the last 90 days. Insiders own 0.27% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on GILD. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target on the stock in a research note on Tuesday, August 19th. UBS Group upped their price target on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upped their price target on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.39.
Check Out Our Latest Stock Analysis on Gilead Sciences
About Gilead Sciences
(
Free Report)
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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