Grimes & Company Inc. Has $17.44 Million Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Grimes & Company Inc. reduced its stake in Gilead Sciences by 3.9%, selling a total of 6,346 shares, resulting in ownership of 157,273 shares valued at approximately $17.44 million.
• Several institutional investors increased their stakes in Gilead during the first quarter, with notable increases from Activest Wealth Management (+2,837.5%) and Core Alternative Capital (+370.8%).
• Gilead Sciences recently reported quarterly earnings of $2.01 per share, exceeding analysts' expectations, and announced a dividend of $0.79, reflecting a 2.8% yield.

Grimes & Company Inc. decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,273 shares of the biopharmaceutical company's stock after selling 6,346 shares during the period. Grimes & Company Inc.'s holdings in Gilead Sciences were worth $17,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the 1st quarter worth about $25,000. Activest Wealth Management raised its holdings in Gilead Sciences by 2,837.5% during the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 227 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Gilead Sciences during the 1st quarter worth about $29,000. Colonial Trust Advisors raised its holdings in Gilead Sciences by 304.3% during the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 213 shares during the last quarter. Finally, Core Alternative Capital raised its holdings in Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider directly owned 114,168 shares in the company, valued at approximately $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the 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 sale, the chief executive officer owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $9,402,130 over the last three months. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on GILD shares. Royal Bank Of Canada boosted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Needham & Company LLC raised 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gilead Sciences in a research note on Saturday, September 27th. Rothschild & Co Redburn upped their price target on Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $117.17.

Gilead Sciences Trading Up 1.9%

NASDAQ:GILD opened at $112.69 on Monday. Gilead Sciences, Inc. has a twelve month low of $83.98 and a twelve month high of $121.83. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average price of $114.34 and a two-hundred day moving average price of $109.97. The company has a market cap of $139.83 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 0.77 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping 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 firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the prior year, the firm posted $2.01 EPS. The business'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. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Gilead Sciences's dividend payout ratio is presently 62.95%.

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.

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