Intech Investment Management LLC Sells 54,585 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Intech Investment Management LLC reduced its stake in Gilead Sciences by 27.9%, selling 54,585 shares to hold a total of 141,002 shares valued at approximately $15.8 million as of its latest SEC filing.
• Multiple analysts have upgraded Gilead Sciences’ stock rating recently, with three giving it a Strong Buy and several raising price targets, leading to an average target of $115.39.
• Gilead announced a quarterly dividend of $0.79, which will be paid to shareholders on September 29th, reflecting a 2.7% annualized yield and a payout ratio of 62.95%.

Intech Investment Management LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 27.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,002 shares of the biopharmaceutical company's stock after selling 54,585 shares during the quarter. Intech Investment Management LLC's holdings in Gilead Sciences were worth $15,799,000 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 recently modified their holdings of GILD. Vanguard Group Inc. increased its holdings in Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after buying an additional 1,942,433 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gilead Sciences by 314.6% during the 1st 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 acquiring an additional 11,156,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gilead Sciences by 15.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock valued at $1,130,117,000 after purchasing an additional 1,605,730 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after purchasing an additional 2,005,863 shares during the period. 83.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research report on Friday, July 25th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.39.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 114,168 shares of the company's stock, valued at $13,532,333.04. This trade represents a 19.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 approximately $978,880.80. The trade was a 35.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,000 shares of company stock worth $9,371,330. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $3.31 on Friday, reaching $114.55. 6,466,956 shares of the stock were exchanged, compared to its average volume of 5,830,447. The firm has a market capitalization of $142.13 billion, a PE ratio of 22.82, a PEG ratio of 0.80 and a beta of 0.36. Gilead Sciences, Inc. has a one year low of $81.57 and a one year high of $121.83. The company's 50-day simple moving average is $114.04 and its two-hundred day simple moving average is $110.09. 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 announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.96 by $0.05. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company's revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

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.