L2 Asset Management LLC Acquires 10,200 Shares of Gilead Sciences, Inc. $GILD

Key Points

• L2 Asset Management increased its Gilead Sciences stake by 16.8% in the fourth quarter, buying 10,200 more shares and bringing its total holdings to 70,920 shares worth about $8.7 million.
• Gilead reported strong quarterly results, with EPS of $2.03 beating estimates and revenue of $6.96 billion topping expectations, while revenue rose 4.4% year over year.
• The company also announced a quarterly dividend of $0.82 per share, equivalent to a 2.6% yield, even as top executives recently sold shares under pre-arranged trading plans.

L2 Asset Management LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,920 shares of the biopharmaceutical company's stock after buying an additional 10,200 shares during the quarter. Gilead Sciences accounts for about 1.2% of L2 Asset Management LLC's investment portfolio, making the stock its 18th biggest position. L2 Asset Management LLC's holdings in Gilead Sciences were worth $8,705,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Gilead Sciences by 52.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 78,494 shares of the biopharmaceutical company's stock worth $8,713,000 after buying an additional 26,882 shares during the period. Aviva PLC lifted its holdings in Gilead Sciences by 5.4% during the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company's stock worth $141,978,000 after buying an additional 59,782 shares during the period. NewEdge Wealth LLC lifted its holdings in Gilead Sciences by 2.9% during the third quarter. NewEdge Wealth LLC now owns 619,690 shares of the biopharmaceutical company's stock worth $75,962,000 after buying an additional 17,284 shares during the period. Nordea Investment Management AB lifted its holdings in Gilead Sciences by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 5,138,699 shares of the biopharmaceutical company's stock worth $630,056,000 after buying an additional 726,101 shares during the period. Finally, Life Cycle Investment Partners Ltd purchased a new stake in Gilead Sciences during the fourth quarter worth $1,418,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $124.30 on Tuesday. Gilead Sciences, Inc. has a 12 month low of $104.46 and a 12 month high of $157.29. The stock has a fifty day moving average price of $132.86 and a 200-day moving average price of $134.32. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.89. The firm has a market cap of $154.33 billion, a PE ratio of 16.93 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.91 by $0.12. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.91 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post -0.79 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, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, June 15th. Gilead Sciences's dividend payout ratio is currently 44.69%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $132.27, for a total value of $396,810.00. Following the transaction, the chief financial officer directly owned 173,191 shares of the company's stock, valued at $22,907,973.57. This represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $131.46, for a total value of $1,971,900.00. Following the completion of the transaction, the chief executive officer directly owned 617,567 shares in the company, valued at approximately $81,185,357.82. The trade was a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 62,000 shares of company stock worth $8,182,190. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GILD shares. Wall Street Zen lowered Gilead Sciences from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Argus upped their target price on Gilead Sciences from $135.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Daiwa Securities Group lowered their target price on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada restated a "sector perform" rating on shares of Gilead Sciences in a report on Monday, June 8th. Finally, Barclays started coverage on Gilead Sciences in a report on Friday, February 20th. They set an "equal weight" rating and a $155.00 target price for the company. Twenty-five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.93.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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