Channing Capital Management LLC Sells 40,649 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Channing Capital Management LLC reduced its stake in Gilead Sciences by 41.2%, now holding 58,009 shares valued at approximately $6.5 million.
• Gilead Sciences reported earnings per share (EPS) of $2.01 for the last quarter, exceeding analyst estimates of $1.96, and had revenue of $7.08 billion, up 1.4% year-over-year.
• The company announced a quarterly dividend of $0.79 per share, representing an annualized yield of 2.7%, to be paid on September 29th to investors of record.

Channing Capital Management LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 41.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,009 shares of the biopharmaceutical company's stock after selling 40,649 shares during the quarter. Channing Capital Management LLC's holdings in Gilead Sciences were worth $6,500,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Redwood Financial Network Corp grew its stake in shares of Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after acquiring an additional 98 shares during the period. Argentarii LLC boosted its holdings in Gilead Sciences by 3.0% in the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after purchasing an additional 99 shares during the last quarter. Peak Financial Advisors LLC grew its position in Gilead Sciences by 1.7% in the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after purchasing an additional 100 shares during the period. Perkins Coie Trust Co grew its position in Gilead Sciences by 2.6% in the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after purchasing an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. raised its stake in Gilead Sciences by 33.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 100 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD stock traded down $1.37 during trading hours on Friday, reaching $114.77. 5,501,912 shares of the company traded hands, compared to its average volume of 6,776,395. The firm has a 50-day moving average price of $112.51 and a 200 day moving average price of $109.08. The company has a market cap of $142.41 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.70 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 12-month low of $75.91 and a 12-month high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued 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. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.Gilead Sciences's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC upgraded 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. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their target price for the company from $108.00 to $127.00 in a report on Friday, August 8th. UBS Group raised their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a research report on Tuesday, August 19th. Finally, Royal Bank Of Canada increased their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $115.39.

Insiders Place Their Bets

In other news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares in the company, valued at $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% 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 over the last quarter. Company insiders own 0.27% of the company's stock.

Gilead Sciences 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.