Glenview Trust co Raises Position in Gilead Sciences, Inc. $GILD

Key Points

• Glenview Trust co has increased its position in Gilead Sciences, Inc. by 7.9% in the first quarter, bringing its total holdings to 176,499 shares valued at approximately $19.8 million.
• A number of other institutional investors, including Vanguard Group and Price T Rowe Associates, have also increased their stakes in Gilead Sciences during the same period.
• The biopharmaceutical company recently announced a quarterly dividend of $0.79 per share, representing a 2.7% yield, which will be paid to shareholders on September 29th.

Glenview Trust co grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 176,499 shares of the biopharmaceutical company's stock after acquiring an additional 12,894 shares during the period. Glenview Trust co's holdings in Gilead Sciences were worth $19,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ilmarinen Mutual Pension Insurance Co grew its position in shares of Gilead Sciences by 12.1% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 195,000 shares of the biopharmaceutical company's stock valued at $21,850,000 after acquiring an additional 21,000 shares during the period. Advisory Alpha LLC grew its position in shares of Gilead Sciences by 25.6% during the 1st quarter. Advisory Alpha LLC now owns 3,536 shares of the biopharmaceutical company's stock valued at $396,000 after acquiring an additional 721 shares during the period. SCS Capital Management LLC bought a new position in shares of Gilead Sciences during the 1st quarter valued at approximately $853,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Gilead Sciences by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company's stock valued at $1,541,302,000 after acquiring an additional 1,520,809 shares during the period. Finally, Woodline Partners LP grew its position in shares of Gilead Sciences by 2.2% during the 1st quarter. Woodline Partners LP now owns 750,516 shares of the biopharmaceutical company's stock valued at $84,095,000 after acquiring an additional 15,823 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $3.31 during trading hours on Friday, hitting $114.55. The stock had a trading volume of 6,466,956 shares, compared to its average volume of 5,830,447. The company has a 50 day simple moving average of $114.04 and a two-hundred day simple moving average of $110.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a one year low of $81.57 and a one year high of $121.83. The firm has a market capitalization of $142.13 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 0.80 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period last year, the firm earned $2.01 EPS. The business's quarterly 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. Research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GILD. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price for the company in a research report on Tuesday, August 19th. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. UBS Group raised their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Dbs Bank raised shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Finally, Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $115.39.

Insider Activity

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock valued at $9,371,330 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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.