Gilead Sciences, Inc. $GILD Stock: Fisher Asset Management LLC Raises Stake

Key Points

• Fisher Asset Management increased its Gilead stake by 1,516% in the third quarter, to 305,850 shares valued at about $45.6 million. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly adjusted earnings of $2.55 per share and revenue of $8.30 billion, topping analyst expectations; revenue grew 6.8% year over year.
• Analysts surveyed by MarketBeat gave Gilead a “Moderate Buy” consensus rating and an average target price of $171.07. The company also declared a quarterly dividend of $0.82 per share, equivalent to a 2.0% yield.

Fisher Asset Management LLC raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 1,516.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,850 shares of the biopharmaceutical company's stock after acquiring an additional 286,924 shares during the period. Fisher Asset Management LLC's holdings in Gilead Sciences were worth $45,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PFS Partners LLC grew its holdings in Gilead Sciences by 101.1% during the 3rd quarter. PFS Partners LLC now owns 191 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in Gilead Sciences in the 2nd quarter worth about $25,000. Laurel Wealth Advisors LLC bought a new stake in Gilead Sciences in the third quarter worth about $29,000. Kimelman & Baird LLC bought a new stake in Gilead Sciences in the second quarter worth about $25,000. Finally, Toth Financial Advisory Corp lifted its stake in Gilead Sciences by 85.5% in the third quarter. Toth Financial Advisory Corp now owns 217 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Up 0.1%

GILD traded up $0.13 on Friday, reaching $168.08. 3,637,311 shares of the company traded hands, compared to its average volume of 6,772,945. Gilead Sciences, Inc. has a one year low of $116.88 and a one year high of $176.58. The firm has a fifty day simple moving average of $155.10 and a two-hundred day simple moving average of $141.80. The company has a market cap of $208.48 billion, a P/E ratio of -53.19 and a beta of 0.35. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 1.84.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.19 by $0.36. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.81 billion. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post -0.98 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.0%. Gilead Sciences's payout ratio is presently -103.80%.

More Gilead Sciences News

These are some of the GILD news items that stood out recently:

• Positive Sentiment: Zacks Research raised several forecasts, including FY2027 EPS to $9.42 from $9.36 and FY2028 EPS to $9.69 from $9.66. It also made small upward adjustments to quarterly estimates. The revisions suggest slightly improved expectations, though the analyst’s Hold rating tempers the signal.
• Neutral Sentiment: Gilead announced a partnership with TelevisaUnivision to promote HIV-prevention awareness at the Latin GRAMMY Awards. It may build awareness, but the announcement does not specify a direct near-term financial impact. Read More..
• Neutral Sentiment: A broader pharmaceutical-stock article highlighted Gilead’s dividend and pipeline as defensive attributes, but offered no company-specific new financial or operating catalyst. Read More..

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GILD shares. Cantor Fitzgerald upped their target price on Gilead Sciences from $155.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Weiss Ratings raised Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $170.00 to $190.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Sanford C. Bernstein restated an "outperform" rating and set a $175.00 price objective on shares of Gilead Sciences in a report on Monday, November 2nd. Finally, Wells Fargo & Company upped their price objective on Gilead Sciences from $165.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Twenty-three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.07.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel O'Day sold 102,619 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $175.16, for a total transaction of $17,974,744.04. Following the transaction, the chief executive officer directly owned 551,683 shares in the company, valued at $96,632,794.28. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the transaction, the director owned 10,066 shares in the company, valued at $1,459,771.32. The trade was a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 242,709 shares of company stock valued at $39,503,427 over the last 90 days. 0.30% of the stock is owned by insiders.

Gilead Sciences Profile

Gilead Sciences, Inc. is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C. Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.

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