Lansforsakringar Fondforvaltning AB publ Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Lansforsakringar Fondforvaltning AB sold 14,275 shares of Gilead Sciences, reducing its stake by 3.4% to a total of 404,400 shares worth approximately $45.3 million.
• Gilead Sciences reported earnings of $2.01 per share, surpassing analyst estimates, with revenue of $7.08 billion in its latest quarter.
• The company announced a quarterly dividend of $0.79, representing a yield of 2.8%, with a payout ratio of 62.95%.

Lansforsakringar Fondforvaltning AB publ trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,400 shares of the biopharmaceutical company's stock after selling 14,275 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Gilead Sciences were worth $45,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Redwood Financial Network Corp grew its stake in shares of Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 98 shares in the last quarter. Argentarii LLC grew its stake in shares of Gilead Sciences by 3.0% in the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after buying an additional 99 shares in the last quarter. Peak Financial Advisors LLC grew its stake in shares of Gilead Sciences by 1.7% in the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after buying an additional 100 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of Gilead Sciences by 2.6% in the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 100 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. grew its stake in shares of Gilead Sciences by 33.3% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the completion of the transaction, the chief financial officer directly owned 160,110 shares in the company, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $3,318,840.00. Following the completion of the transaction, the insider owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,000 shares of company stock worth $9,371,330. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD traded up $0.41 on Monday, reaching $112.97. 4,629,720 shares of the stock traded hands, compared to its average volume of 6,308,101. The firm has a market cap of $140.17 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.70 and a beta of 0.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 12 month low of $77.74 and a 12 month high of $121.83. The stock's 50-day moving average price is $113.01 and its 200-day moving average price is $109.66.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The firm had revenue of $7.08 billion for 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%.The business's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal 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 of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.8%. Gilead Sciences's dividend payout ratio is presently 62.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GILD shares. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. UBS Group boosted their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a report on Friday, July 25th. Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $115.39.

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.