Gilead Sciences, Inc. $GILD Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Gilead Sciences by 24.6% in Q2, owning 52,651 shares worth approximately $5.84 million after selling 17,147 shares during the quarter.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their stakes in Gilead, reflecting robust institutional interest as they own 83.67% of the company's stock.
• Research analysts have largely upgraded Gilead's stock ratings, with a consensus recommendation of "Moderate Buy" and an average target price set at $118.08.

Envestnet Portfolio Solutions Inc. decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,651 shares of the biopharmaceutical company's stock after selling 17,147 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Gilead Sciences were worth $5,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. Vanguard Group Inc. lifted its stake in Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock worth $1,647,484,000 after acquiring an additional 11,156,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Gilead Sciences by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company's stock worth $1,541,302,000 after acquiring an additional 1,520,809 shares during the last quarter. Nuveen LLC purchased a new position in Gilead Sciences in the first quarter worth approximately $620,415,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Gilead Sciences by 12.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,742,656 shares of the biopharmaceutical company's stock worth $414,948,000 after acquiring an additional 417,237 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GILD shares. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Dbs Bank upgraded shares of Gilead Sciences to a "moderate buy" rating in a research note on Friday, September 5th. Cantor Fitzgerald lifted their price target on shares of Gilead Sciences from $129.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price target on shares of Gilead Sciences from $98.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 8th. Finally, Rothschild & Co Redburn raised their price objective on shares of Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.08.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Monday, September 15th. The shares were sold at an average price of $113.57, for a total value of $283,925.00. Following the transaction, the chief financial officer directly owned 159,555 shares of the company's stock, valued at $18,120,661.35. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction 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 completion of the transaction, the insider directly owned 114,168 shares in the company, valued at $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock valued at $7,632,100 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 0.2%

GILD stock opened at $118.48 on Wednesday. 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, Inc. has a twelve month low of $84.80 and a twelve month high of $121.83. The company's 50 day moving average is $114.84 and its two-hundred day moving average is $110.35. The stock has a market cap of $147.01 billion, a P/E ratio of 23.60, a PEG ratio of 0.80 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS 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 company's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Research analysts expect 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 was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, September 15th. Gilead Sciences's payout ratio is presently 62.95%.

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.

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