KLP Kapitalforvaltning AS Purchases 20,100 Shares of Gilead Sciences, Inc. $GILD

Key Points

• KLP Kapitalforvaltning AS increased its stake in Gilead Sciences, acquiring 20,100 shares, bringing its total ownership to 796,208 shares worth approximately $88.3 million.
• Gilead Sciences reported better-than-expected quarterly earnings with an EPS of $2.01, surpassing analyst estimates of $1.96 and achieving $7.08 billion in revenue.
• The company recently declared a quarterly dividend of $0.79 per share, yielding 2.8%, with a payout ratio of 62.95%.

KLP Kapitalforvaltning AS grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 796,208 shares of the biopharmaceutical company's stock after acquiring an additional 20,100 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Gilead Sciences worth $88,276,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Gilead Sciences by 314.6% in 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 acquiring an additional 11,156,382 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Gilead Sciences by 12.4% in the first 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 worth $1,541,302,000 after acquiring an additional 1,520,809 shares in the last quarter. Nuveen LLC bought a new stake in Gilead Sciences in the first quarter worth $620,415,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Gilead Sciences by 12.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,742,656 shares of the biopharmaceutical company's stock worth $414,948,000 after acquiring an additional 417,237 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Up 0.8%

Gilead Sciences stock opened at $113.58 on Tuesday. The stock has a market cap of $140.93 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 0.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. Gilead Sciences, Inc. has a one year low of $84.17 and a one year high of $121.83. The stock has a fifty day moving average of $114.36 and a 200 day moving average of $110.01.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.Gilead Sciences's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Dbs Bank raised Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Rothschild & Co Redburn boosted their price target on Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $108.00 to $127.00 in a research note on Friday, August 8th. UBS Group boosted their price target on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued 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.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $111.66, for a total value of $1,116,600.00. Following the completion of the sale, the chief executive officer owned 591,203 shares in the company, valued at $66,013,726.98. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $113.57, for a total value of $283,925.00. Following the completion of the sale, the chief financial officer owned 159,555 shares of the company's stock, valued at approximately $18,120,661.35. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,000 shares of company stock worth $9,402,130. 0.27% of the stock is owned by insiders.

Gilead Sciences Company 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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