Gilead Sciences, Inc. $GILD is Sprucegrove Investment Management Ltd.'s 7th Largest Position

Key Points

• Sprucegrove Investment Management Ltd. reduced its stake in Gilead Sciences by 24.9%, resulting in ownership of 201,970 shares, which accounts for 1.9% of its investment portfolio.
• Multiple analysts have raised their price targets for Gilead Sciences, with a consensus rating of "Moderate Buy" and an average target price of $114.82.
• The company announced a quarterly dividend of $0.79 per share, with a dividend yield of 2.7%, to be paid on September 29th.

Sprucegrove Investment Management Ltd. lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,970 shares of the biopharmaceutical company's stock after selling 66,996 shares during the period. Gilead Sciences makes up about 1.9% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 7th biggest holding. Sprucegrove Investment Management Ltd.'s holdings in Gilead Sciences were worth $22,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Redwood Financial Network Corp lifted its holdings in Gilead Sciences by 4.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 98 shares in the last quarter. Argentarii LLC lifted its holdings in Gilead Sciences by 3.0% during the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after purchasing an additional 99 shares in the last quarter. Peak Financial Advisors LLC lifted its holdings in Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after purchasing an additional 100 shares in the last quarter. Perkins Coie Trust Co lifted its holdings in Gilead Sciences by 2.6% during the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 100 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its holdings in Gilead Sciences by 33.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GILD shares. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research report on Friday, July 25th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective on the stock in a research report on Tuesday. Finally, UBS Group lifted their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Three equities research 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 a consensus rating of "Moderate Buy" and a consensus price target of $115.39.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's 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 sale, the chief financial officer directly owned 160,110 shares of the company's stock, valued at $18,977,838.30. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $12,349,790 in the last ninety days. 0.27% of the stock is owned by insiders.

Gilead Sciences Trading Up 0.6%

GILD stock traded up $0.7580 during mid-day trading on Wednesday, reaching $118.7380. 3,950,037 shares of the stock traded hands, compared to its average volume of 8,298,491. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. Gilead Sciences, Inc. has a one year low of $74.80 and a one year high of $121.83. The stock has a market capitalization of $147.33 billion, a PE ratio of 23.65, a PEG ratio of 0.72 and a beta of 0.33. The business has a 50-day moving average price of $112.14 and a two-hundred day moving average price of $108.71.

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

Gilead Sciences Dividend Announcement

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 paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. Gilead Sciences's dividend payout ratio is 62.95%.

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.