Gilead Sciences, Inc. $GILD Shares Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC nearly doubled its Gilead Sciences stake in the first quarter, increasing holdings by 96.1% to 33,055 shares valued at about $4.6 million.
• Gilead continues to attract strong institutional interest overall, with hedge funds and asset managers owning 83.67% of the stock. Several large firms, including Vanguard and State Street, also added to their positions.
• The company recently beat quarterly earnings expectations, posting $2.03 EPS on $6.96 billion in revenue, and it also declared a quarterly dividend of $0.82 per share.

Fifth Third Wealth Advisors LLC raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 96.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,055 shares of the biopharmaceutical company's stock after buying an additional 16,196 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Gilead Sciences were worth $4,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of GILD. Vanguard Group Inc. grew its position in Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company's stock valued at $14,863,487,000 after acquiring an additional 2,113,692 shares in the last quarter. State Street Corp lifted its position in shares of Gilead Sciences by 1.9% during the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company's stock worth $7,393,921,000 after purchasing an additional 1,151,213 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Gilead Sciences by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company's stock worth $3,399,734,000 after purchasing an additional 1,195,269 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Gilead Sciences by 15.2% in the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company's stock valued at $2,837,948,000 after purchasing an additional 3,046,688 shares during the period. Finally, Norges Bank purchased a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $2,617,152,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on GILD. Morgan Stanley cut their target price on shares of Gilead Sciences from $175.00 to $168.00 in a research note on Friday, May 8th. Jefferies Financial Group began coverage on shares of Gilead Sciences in a research report on Tuesday, March 10th. They issued a "buy" rating and a $180.00 price target for the company. Royal Bank Of Canada restated a "sector perform" rating on shares of Gilead Sciences in a research note on Monday, June 8th. Citigroup upped their price objective on Gilead Sciences from $156.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Finally, The Goldman Sachs Group increased their price objective on Gilead Sciences from $125.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, April 17th. Twenty-five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.41.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 15,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $131.46, for a total value of $1,971,900.00. Following the completion of the transaction, the chief executive officer owned 617,567 shares in the company, valued at approximately $81,185,357.82. This represents a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $131.29, for a total transaction of $3,676,120.00. Following the completion of the transaction, the insider directly owned 125,779 shares in the company, valued at $16,513,524.91. This trade represents a 18.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 68,000 shares of company stock worth $8,930,150 over the last three months. Insiders own 0.30% of the company's stock.

Gilead Sciences Stock Up 0.1%

Shares of NASDAQ GILD opened at $125.19 on Thursday. The business has a 50-day moving average of $130.76 and a two-hundred day moving average of $134.31. The company has a market capitalization of $155.43 billion, a price-to-earnings ratio of 17.06 and a beta of 0.31. Gilead Sciences, Inc. has a 1 year low of $104.46 and a 1 year high of $157.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.97 and a quick ratio of 1.77.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post -0.8 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, June 15th. Gilead Sciences's dividend payout ratio is currently 44.69%.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.