Cresset Asset Management LLC Lowers Stake in Gilead Sciences, Inc. $GILD

Key Points

• Cresset Asset Management LLC reduced its stake in Gilead Sciences by 19.8%, selling 15,218 shares, and now holds 61,736 shares valued at approximately $6.9 million.
• Gilead Sciences' CEO Daniel Patrick O'day sold 10,000 shares, decreasing his position by 1.62%, while insiders sold a total of 79,500 shares worth $8.73 million over the last quarter.
• Gilead recently reported $2.01 earnings per share (EPS), beating estimates, and announced a dividend of $0.79 per share, reflecting an annualized yield of 2.7%.

Cresset Asset Management LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,736 shares of the biopharmaceutical company's stock after selling 15,218 shares during the period. Cresset Asset Management LLC's holdings in Gilead Sciences were worth $6,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after acquiring an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Gilead Sciences by 14.5% in the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 109 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at about $1,699,000. ASR Vermogensbeheer N.V. purchased a new position in shares of Gilead Sciences in the first quarter valued at about $11,688,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Gilead Sciences by 4.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 292,966 shares of the biopharmaceutical company's stock valued at $32,827,000 after acquiring an additional 13,194 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 1.2%

GILD stock traded down $1.45 during trading on Friday, hitting $114.69. The company had a trading volume of 2,884,875 shares, compared to its average volume of 8,264,172. Gilead Sciences, Inc. has a 52-week low of $75.91 and a 52-week high of $121.83. The company has a 50 day simple moving average of $112.41 and a 200-day simple moving average of $108.90. The firm has a market capitalization of $142.31 billion, a P/E ratio of 22.85, a PEG ratio of 0.73 and a beta of 0.33. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 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 for the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the prior year, the firm earned $2.01 EPS. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. Gilead Sciences's payout ratio is 62.95%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on 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 completion of the sale, the insider directly owned 114,168 shares of the company's stock, valued at $13,532,333.04. The trade was a 19.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,000 shares of company stock valued at $9,339,230. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GILD shares. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a report on Friday, July 25th. Oppenheimer reduced their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada lifted their target price on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $115.39.

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.