Gilead Sciences, Inc. $GILD Stake Lessened by Sector Gamma AS

Key Points

• Sector Gamma AS reduced its stake in Gilead Sciences by 29.1%, selling 57,500 shares, while also revealing their holdings are valued at approximately $15.7 million.
• Gilead Sciences reported better-than-expected quarterly earnings, with an EPS of $2.01, surpassing analysts' estimates by five cents and showing a revenue increase of 1.4% year-over-year.
• The company declared a quarterly dividend of $0.79 per share, set to be paid on September 29th, reflecting a yield of 2.7% as well as a dividend payout ratio of 62.95%.

Sector Gamma AS decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 29.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,000 shares of the biopharmaceutical company's stock after selling 57,500 shares during the period. Gilead Sciences makes up approximately 5.0% of Sector Gamma AS's holdings, making the stock its 7th largest position. Sector Gamma AS's holdings in Gilead Sciences were worth $15,687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Brighton Jones LLC raised its holdings in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Gilead Sciences by 1.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 76,447 shares of the biopharmaceutical company's stock worth $7,055,000 after purchasing an additional 1,348 shares in the last quarter. Gabelli Funds LLC acquired a new position in Gilead Sciences in the 4th quarter worth $387,000. NewEdge Advisors LLC grew its position in shares of Gilead Sciences by 63.7% during the fourth quarter. NewEdge Advisors LLC now owns 91,653 shares of the biopharmaceutical company's stock worth $8,466,000 after buying an additional 35,657 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Gilead Sciences by 18.9% in the fourth quarter. Marshall Wace LLP now owns 1,216,798 shares of the biopharmaceutical company's stock worth $112,396,000 after purchasing an additional 193,133 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GILD shares. Oppenheimer decreased their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group raised their price target on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research note on Friday, July 25th. Daiwa Capital Markets raised shares of 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. Finally, Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the company from $108.00 to $127.00 in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $115.39.

Gilead Sciences Trading Down 0.0%

NASDAQ:GILD traded down $0.01 during trading hours on Tuesday, hitting $117.98. 6,114,576 shares of the company were exchanged, compared to its average volume of 8,319,784. The company has a fifty day simple moving average of $111.98 and a 200 day simple moving average of $108.64. Gilead Sciences, Inc. has a one year low of $74.34 and a one year high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $146.39 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.95 billion. During the same quarter last year, the firm posted $2.01 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Sell-side 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. Shareholders of record on Monday, September 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the sale, the chief executive officer owned 605,725 shares in the company, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the completion of the transaction, the insider directly owned 114,168 shares in the company, valued at $13,532,333.04. The trade was a 19.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock valued at $12,349,790. Corporate insiders own 0.27% of the company's stock.

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.