Gilead Sciences, Inc. $GILD Stock Position Reduced by Strs Ohio

Key Points

• Strs Ohio cut its Gilead Sciences stake by 5.6% in the first quarter, selling 30,448 shares and ending with 510,771 shares valued at about $71.2 million.
• Gilead reported stronger-than-expected quarterly results, posting EPS of $2.03 versus the $1.91 estimate and revenue of $6.96 billion, up 4.4% year over year.
• The company continues paying a sizable dividend, with a recent quarterly payout of $0.82 per share that works out to a 2.5% annual yield.

Strs Ohio lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 510,771 shares of the biopharmaceutical company's stock after selling 30,448 shares during the quarter. Strs Ohio's holdings in Gilead Sciences were worth $71,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Gilead Sciences during the fourth quarter worth $2,617,152,000. Boston Partners purchased a new position in Gilead Sciences in the fourth quarter valued at about $517,808,000. Massachusetts Financial Services Co. MA grew its stake in Gilead Sciences by 3,763.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,223,304 shares of the biopharmaceutical company's stock valued at $518,368,000 after purchasing an additional 4,113,999 shares in the last quarter. Bank of America Corp DE increased its position in Gilead Sciences by 15.2% in the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company's stock worth $2,837,948,000 after purchasing an additional 3,046,688 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company's stock worth $14,863,487,000 after purchasing an additional 2,113,692 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $131.27 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $157.29. The business has a 50-day moving average of $129.48 and a two-hundred day moving average of $134.56. The stock has a market capitalization of $162.98 billion, a P/E ratio of 17.88 and a beta of 0.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.97 and a quick ratio of 1.77.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. On average, equities research analysts predict that Gilead Sciences, Inc. will post -0.8 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, June 15th. Gilead Sciences's dividend payout ratio (DPR) is 44.69%.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $131.29, for a total value of $3,676,120.00. Following the completion of the sale, the insider directly owned 125,779 shares in the company, valued at approximately $16,513,524.91. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $131.46, for a total transaction of $1,971,900.00. Following the sale, the chief executive officer directly owned 617,567 shares of the company's stock, valued at approximately $81,185,357.82. This represents a 2.37% 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 a total of 83,000 shares of company stock valued at $10,824,500 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on GILD. Wall Street Zen downgraded Gilead Sciences from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Leerink Partners dropped their price objective on Gilead Sciences from $148.00 to $146.00 in a report on Friday, May 8th. Morgan Stanley cut their price objective on shares of Gilead Sciences from $175.00 to $168.00 in a research report on Friday, May 8th. Maxim Group upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Wednesday, May 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $155.00 target price on shares of Gilead Sciences in a research note on Tuesday, June 16th. Twenty-five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $158.41.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.