Kayne Anderson Rudnick Investment Management LLC Raises Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Gilead Sciences by 18,821.9% during the first quarter, now owning 38,033 shares valued at approximately $4.26 million.
• Gilead Sciences reported a quarterly earnings per share of $2.01, which exceeded analysts' expectations by $0.05, alongside a revenue of $7.08 billion.
• The biopharmaceutical company will pay a quarterly dividend of $0.79 per share on September 29th, representing an annualized dividend yield of 2.8%.

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 18,821.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,033 shares of the biopharmaceutical company's stock after buying an additional 37,832 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Gilead Sciences were worth $4,262,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its position in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC raised its position in Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. Mufg Securities Americas Inc. purchased a new stake in Gilead Sciences in the 4th quarter valued at $1,699,000. ASR Vermogensbeheer N.V. purchased a new stake in Gilead Sciences in the 1st quarter valued at $11,688,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Gilead Sciences by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 292,966 shares of the biopharmaceutical company's stock valued at $32,827,000 after purchasing an additional 13,194 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $114.15 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The stock has a market capitalization of $141.64 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.70 and a beta of 0.33. The company's fifty day moving average is $112.57 and its two-hundred day moving average is $109.28. Gilead Sciences, Inc. has a 1 year low of $76.42 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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 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 period in the prior year, the company posted $2.01 EPS. The business's revenue for the quarter 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, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. Gilead Sciences's dividend payout ratio is 62.95%.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company'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 $296,325.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 82,000 shares of company stock valued at $9,339,230. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GILD. UBS Group upped their price target 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. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research report on Friday, July 25th. Finally, 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 research note on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $115.39.

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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