Adage Capital Partners GP L.L.C. Lowers Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in Gilead Sciences by 23.0%, selling 393,978 shares, and now owns about 1,320,152 shares valued at approximately $147.9 million.
• Insider Johanna Mercier sold 28,000 shares worth $3.3 million, representing a 19.70% decrease in her position.
• Gilead Sciences announced a quarterly dividend of $0.79 per share, with a 2.8% yield and a dividend payout ratio of 62.95%.

Adage Capital Partners GP L.L.C. trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,320,152 shares of the biopharmaceutical company's stock after selling 393,978 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Gilead Sciences worth $147,923,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV increased its position in shares of Gilead Sciences by 5.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $1,699,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Gilead Sciences in the 1st quarter valued at $11,688,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gilead Sciences by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 292,966 shares of the biopharmaceutical company's stock valued at $32,827,000 after purchasing an additional 13,194 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GILD shares. Royal Bank Of Canada upped their price target on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. UBS Group upped their price target on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a research note on Tuesday, August 19th. Three 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $115.39.

Gilead Sciences Stock Down 0.2%

GILD stock traded down $0.22 during mid-day trading on Thursday, reaching $112.77. The company had a trading volume of 3,931,298 shares, compared to its average volume of 5,795,256. Gilead Sciences, Inc. has a fifty-two week low of $77.74 and a fifty-two week high of $121.83. The company has a market capitalization of $139.93 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 0.77 and a beta of 0.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The firm has a fifty day simple moving average of $113.50 and a 200 day simple moving average of $109.82.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The business's revenue for the quarter was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share 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 issued a $0.79 dividend. The ex-dividend date 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 presently 62.95%.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $3,318,840.00. Following the transaction, the insider owned 114,168 shares in the company, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer owned 160,110 shares in the company, valued at approximately $18,977,838.30. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,000 shares of company stock worth $9,371,330. Insiders own 0.27% of the company's stock.

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.