Gilead Sciences, Inc. $GILD Shares Sold by Atle Fund Management AB

Key Points

• Atle Fund Management AB trimmed its stake in Gilead Sciences by 5.0% during Q2, retaining 73,165 shares worth approximately $8.1 million.
• Insider Johanna Mercier sold 3,000 shares of Gilead, and CEO Daniel O'Day sold 10,000 shares, indicating a 2.58% and 1.65% decrease in their respective positions.
• Gilead Sciences reported Q2 earnings of $2.01 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.79, reflecting a 2.8% yield.

Atle Fund Management AB cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,165 shares of the biopharmaceutical company's stock after selling 3,833 shares during the period. Gilead Sciences accounts for about 3.4% of Atle Fund Management AB's portfolio, making the stock its 11th biggest position. Atle Fund Management AB's holdings in Gilead Sciences were worth $8,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GILD. Price T Rowe Associates Inc. MD raised its position in Gilead Sciences by 314.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock valued at $1,647,484,000 after purchasing an additional 11,156,382 shares during the period. Nuveen LLC purchased a new stake in Gilead Sciences in the 1st quarter worth about $620,415,000. GAMMA Investing LLC raised its position in Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock worth $285,761,000 after purchasing an additional 2,532,070 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Gilead Sciences in the 2nd quarter worth about $238,083,000. Finally, Los Angeles Capital Management LLC raised its position in Gilead Sciences by 422.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock worth $282,706,000 after purchasing an additional 2,040,261 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded up $2.84 during midday trading on Tuesday, reaching $115.33. The company had a trading volume of 3,704,908 shares, compared to its average volume of 8,065,160. The business's 50-day simple moving average is $114.11 and its 200 day simple moving average is $109.95. The stock has a market cap of $143.10 billion, a P/E ratio of 22.97, a P/E/G ratio of 0.77 and a beta of 0.36. Gilead Sciences, Inc. has a 1 year low of $81.83 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.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $6.95 billion. During the same quarter last year, the company posted $2.01 earnings per share. The business's quarterly 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. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the completion of the transaction, the chief executive officer owned 595,725 shares of the company's stock, valued at $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the transaction, the chief financial officer directly owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,000 shares of company stock worth $9,390,030. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GILD shares. Daiwa Capital Markets raised 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 report on Tuesday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research report on Friday, July 25th. Rothschild & Co Redburn raised their target price on shares of Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Daiwa America raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $117.17.

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.