Gilead Sciences, Inc. $GILD Shares Sold by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. reduced its stake in Gilead Sciences by 2.4%, selling 8,905 shares, and currently holds around 356,619 shares, valued at approximately $39.54 million.
• CEO Daniel Patrick O'day sold 10,000 shares for $1.14 million, which marks a 1.65% decrease in his ownership, leaving him with about 595,725 shares valued at nearly $67.69 million.
• Gilead Sciences announced a quarterly dividend of $0.79 per share, with a yield of 2.8%, to be paid on September 29th to investors of record as of September 15th.

Meyer Handelman Co. trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 356,619 shares of the biopharmaceutical company's stock after selling 8,905 shares during the quarter. Gilead Sciences accounts for about 1.3% of Meyer Handelman Co.'s portfolio, making the stock its 22nd biggest holding. Meyer Handelman Co.'s holdings in Gilead Sciences were worth $39,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Southland Equity Partners LLC lifted its holdings in Gilead Sciences by 2.9% in the 2nd quarter. Southland Equity Partners LLC now owns 3,285 shares of the biopharmaceutical company's stock valued at $364,000 after acquiring an additional 92 shares during the last quarter. Argentarii LLC lifted its holdings in Gilead Sciences by 3.0% in the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after acquiring an additional 99 shares during the last quarter. Peak Financial Advisors LLC lifted its holdings 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 valued at $677,000 after acquiring an additional 100 shares during the last quarter. Perkins Coie Trust Co lifted its holdings 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 valued at $435,000 after acquiring an additional 100 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in Gilead Sciences by 33.3% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

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 that occurred 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 transaction, the chief executive officer owned 595,725 shares of the company's stock, valued at approximately $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This trade represents a 35.92% 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 $9,390,030 in the last ninety days. Insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

NASDAQ GILD opened at $110.99 on Friday. The company has a 50 day simple moving average of $114.34 and a 200-day simple moving average of $109.96. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The firm has a market capitalization of $137.72 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.77 and a beta of 0.36. Gilead Sciences, Inc. has a 52-week low of $81.83 and a 52-week high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share 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 analyst estimates 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 for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed 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. This represents a $3.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Daiwa America upgraded 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 objective on the stock in a report on Tuesday, August 19th. Finally, UBS Group boosted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Three investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.17.

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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