Kovitz Investment Group Partners LLC Acquires 58,485 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Gilead Sciences by 160.9%, acquiring an additional 58,485 shares, bringing its total holdings to 94,827 shares valued at about $10.6 million.
• Gilead Sciences reported quarterly earnings of $2.01 per share, exceeding analysts' expectations, with revenue of $7.08 billion, representing a 1.4% year-over-year increase.
• The company will pay a quarterly dividend of $0.79 per share on September 29, translating to an annualized dividend of $3.16 and a yield of 2.7%.

Kovitz Investment Group Partners LLC boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 160.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,827 shares of the biopharmaceutical company's stock after purchasing an additional 58,485 shares during the period. Kovitz Investment Group Partners LLC's holdings in Gilead Sciences were worth $10,625,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GILD. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences during the first quarter worth about $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences in the first quarter valued at approximately $29,000. Core Alternative Capital increased its position in Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 241 shares during the period. IMA Advisory Services Inc. bought a new position in Gilead Sciences during the 1st quarter worth approximately $39,000. Finally, Financial Network Wealth Advisors LLC raised its holdings in Gilead Sciences by 538.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 364 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 307 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $296,325.00. Following the completion of the sale, the chief financial officer owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,000 shares of company stock worth $12,349,790. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GILD shares. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. 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. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Oppenheimer lowered their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.

Gilead Sciences Stock Up 0.9%

Shares of Gilead Sciences stock traded up $1.0850 during trading hours on Wednesday, reaching $119.0650. The company's stock had a trading volume of 2,802,010 shares, compared to its average volume of 8,294,961. The company has a market capitalization of $147.74 billion, a P/E ratio of 23.72, a P/E/G ratio of 0.72 and a beta of 0.33. The stock's fifty day simple moving average is $112.14 and its two-hundred day simple moving average is $108.71. Gilead Sciences, Inc. has a one year low of $74.80 and a one year high of $121.83. 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 (NASDAQ:GILD - Get Free Report) last posted its 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 company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The firm's 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. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. Gilead Sciences's payout ratio is presently 62.95%.

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.