Korea Investment CORP Acquires 102,232 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Korea Investment CORP increased its holdings in Gilead Sciences, Inc. by 9.0%, acquiring an additional 102,232 shares in the first quarter, bringing their total ownership to approximately 0.10% of the company valued at $138.98 million.
• Gilead Sciences recently reported earnings of $2.01 per share, exceeding the consensus estimate, with quarterly revenue increasing by 1.4% year-over-year to $7.08 billion.
• The company declared a quarterly dividend of $0.79 per share, with an ex-dividend date of September 15th, representing an annualized dividend yield of 2.7%.

Korea Investment CORP lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,240,334 shares of the biopharmaceutical company's stock after purchasing an additional 102,232 shares during the quarter. Korea Investment CORP owned about 0.10% of Gilead Sciences worth $138,979,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after buying an additional 1,942,433 shares during the period. Northern Trust Corp raised its position in shares of Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gilead Sciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after acquiring an additional 1,605,730 shares during the last quarter. Royal Bank of Canada lifted its holdings in Gilead Sciences by 30.1% in the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after purchasing an additional 2,005,863 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Gilead Sciences during the first quarter worth approximately $620,415,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $1.37 during mid-day trading on Friday, reaching $114.77. 5,491,208 shares of the stock were exchanged, compared to its average volume of 8,281,908. Gilead Sciences, Inc. has a 1-year low of $75.91 and a 1-year high of $121.83. The business has a fifty day moving average price of $112.41 and a 200 day moving average price of $108.90. The firm has a market capitalization of $142.41 billion, a PE ratio of 22.86, a PEG ratio of 0.73 and a beta of 0.33. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio is currently 62.95%.

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 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 $296,325.00. Following the transaction, the chief financial officer owned 160,110 shares in the company, valued at approximately $18,977,838.30. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,000 shares of company stock valued at $9,339,230. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GILD shares. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Oppenheimer dropped their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a research report on Tuesday. Morgan Stanley raised their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Royal Bank Of Canada upped their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.