International Assets Investment Management LLC Lowers Holdings in Gilead Sciences, Inc. $GILD

Key Points

• International Assets Investment Management LLC reduced its holdings in Gilead Sciences by 31.1%, selling 3,493 shares in the second quarter, resulting in ownership of 7,740 shares worth $858,000.
• Several hedge funds have increased their stakes in Gilead Sciences, with Price T Rowe Associates Inc. boosting its stake by 314.6% during the first quarter.
• Gilead Sciences reported $2.01 earnings per share for the latest quarter, surpassing analyst estimates, and announced a quarterly dividend of $0.79 per share with a yield of 2.6%.

International Assets Investment Management LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 31.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,740 shares of the biopharmaceutical company's stock after selling 3,493 shares during the period. International Assets Investment Management LLC's holdings in Gilead Sciences were worth $858,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Gilead Sciences by 314.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock worth $1,647,484,000 after purchasing an additional 11,156,382 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Gilead Sciences in the first quarter valued at $620,415,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Gilead Sciences in the second quarter valued at $238,083,000. Los Angeles Capital Management LLC raised its stake in shares of Gilead Sciences by 422.6% in the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after acquiring an additional 2,040,261 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after acquiring an additional 1,942,433 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 114,168 shares of the company's stock, valued at $13,532,333.04. This trade represents a 19.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $113.63, for a total value of $1,136,300.00. Following the transaction, the chief executive officer directly owned 595,725 shares in the company, valued at approximately $67,692,231.75. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,500 shares of company stock valued at $8,281,540 over the last quarter. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GILD shares. Rothschild & Co Redburn raised 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. BMO Capital Markets raised their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. The Goldman Sachs Group raised their price target on Gilead Sciences from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Dbs Bank raised Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $121.14.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $123.11 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52-week low of $85.60 and a 52-week high of $124.11. The business's 50-day moving average price is $115.27 and its 200 day moving average price is $110.62. The firm has a market cap of $152.76 billion, a P/E ratio of 24.52, a P/E/G ratio of 0.84 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 (EPS) 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 for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the company posted $2.01 earnings per share. 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. On average, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is currently 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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