Kingstone Capital Partners Texas LLC Purchases New Position in Gilead Sciences, Inc. $GILD

Key Points

• Kingstone Capital Partners Texas LLC purchased over 2 million shares of Gilead Sciences valued at approximately $238 million, representing a new stake in the company.
• Gilead Sciences reported earnings of $2.01 per share and revenue of $7.08 billion for the latest quarter, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.79, with a significant dividend yield of 2.8% and a payout ratio of 62.95%.

Kingstone Capital Partners Texas LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,147,411 shares of the biopharmaceutical company's stock, valued at approximately $238,083,000. Kingstone Capital Partners Texas LLC owned 0.17% of Gilead Sciences as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Gilead Sciences during the first quarter valued at approximately $25,000. Activest Wealth Management raised its stake in Gilead Sciences by 2,837.5% during the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 227 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Gilead Sciences in the first quarter worth $29,000. Colonial Trust Advisors grew its holdings in shares of Gilead Sciences by 304.3% during the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 213 shares in the last quarter. Finally, Core Alternative Capital raised its position in Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 241 shares during the period. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer directly owned 160,110 shares of the company's stock, valued at $18,977,838.30. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 28,000 shares of the firm'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 completion of the transaction, the insider directly owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $9,390,030 in the last 90 days. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research note on Friday, July 25th. Rothschild & Co Redburn upped their target price on Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a report on Friday, September 12th. Dbs Bank upgraded Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on Gilead Sciences from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $117.17.

Gilead Sciences Trading Down 1.4%

NASDAQ GILD traded down $1.60 on Monday, reaching $112.49. The company had a trading volume of 7,257,534 shares, compared to its average volume of 8,080,683. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The firm has a market cap of $139.58 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 0.77 and a beta of 0.36. The business has a 50 day moving average of $114.10 and a two-hundred day moving average of $109.98. Gilead Sciences, Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS 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 prior year, the firm posted $2.01 earnings per share. 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. Analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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