Gilead Sciences, Inc. $GILD Position Lowered by Synergy Asset Management LLC

Key Points

• Synergy Asset Management LLC significantly reduced its holdings in Gilead Sciences by 95.4%, owning only 4,924 shares after selling 101,576 shares in the second quarter.
• Gilead Sciences recently announced a quarterly dividend of $0.79 per share, translating to an annualized yield of 2.9% and a payout ratio of 62.95%.
• Analysts have increased their price targets for Gilead Sciences, with Rothschild & Co raising their target from $136 to $143 and JPMorgan lifting theirs from $135 to $145.

Synergy Asset Management LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 95.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,924 shares of the biopharmaceutical company's stock after selling 101,576 shares during the period. Synergy Asset Management LLC's holdings in Gilead Sciences were worth $546,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new position in Gilead Sciences in the first quarter worth about $25,000. Activest Wealth Management lifted its holdings in 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 during the last quarter. Goodman Advisory Group LLC bought a new position in Gilead Sciences in the first quarter worth about $29,000. Colonial Trust Advisors lifted its holdings in 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 during the last quarter. Finally, Core Alternative Capital lifted its holdings in Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction that occurred on 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 approximately $13,532,333.04. This represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the company'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 transaction of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $9,402,130 over the last ninety days. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $110.56 on Friday. The company's fifty day moving average price is $114.42 and its 200 day moving average price is $109.91. Gilead Sciences, Inc. has a one year low of $83.98 and a one year high of $121.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The company has a market capitalization of $137.18 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 0.76 and a beta of 0.34.

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 for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, September 15th. Gilead Sciences's dividend payout ratio is presently 62.95%.

Analysts Set New Price Targets

GILD has been the topic of a number of recent analyst reports. Rothschild & Co Redburn lifted their price target on Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a report on Friday, September 12th. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective on the stock in a research note on Tuesday, August 19th. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, UBS Group raised their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.