Martingale Asset Management L P Sells 32,824 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Martingale Asset Management L P sold 32,824 shares of Gilead Sciences, reducing its stake by 14.3%, leaving it with 196,678 shares valued at approximately $22 million.
• Director Jeffrey Bluestone and insider Johanna Mercier made significant sales of Gilead shares recently, with Bluestone selling 5,000 shares and Mercier selling 28,000 shares, indicating notable insider activity.
• Gilead Sciences reported a quarterly earnings per share of $2.01, beating analyst estimates, with a quarterly revenue of $7.08 billion, placing the company on track with a positive FY 2025 guidance.

Martingale Asset Management L P cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,678 shares of the biopharmaceutical company's stock after selling 32,824 shares during the quarter. Martingale Asset Management L P's holdings in Gilead Sciences were worth $22,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Gilead Sciences by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after purchasing an additional 1,942,433 shares in the last quarter. Northern Trust Corp increased its position in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after acquiring an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Gilead Sciences by 15.1% during 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 period. Royal Bank of Canada boosted its position in Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares during the last quarter. Finally, Nuveen LLC bought a new position in Gilead Sciences in the 1st quarter valued at $620,415,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of GILD traded down $0.62 during midday trading on Monday, hitting $114.15. 3,652,824 shares of the company traded hands, compared to its average volume of 8,246,401. The stock has a 50-day moving average of $112.51 and a 200-day moving average of $109.16. The firm has a market cap of $141.64 billion, a P/E ratio of 22.74, a PEG ratio of 0.70 and a beta of 0.33. Gilead Sciences, Inc. has a one year low of $76.42 and a one year high of $121.83. 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 (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 EPS. 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 fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid 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 2.8%. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GILD. Daiwa America raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target for the company in a research note on Tuesday, August 19th. UBS Group raised their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research report on Friday, July 25th. Three investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.

Insider Buying and Selling at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the 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 transaction, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $296,325.00. Following the transaction, the chief financial officer directly owned 160,110 shares in the company, valued at $18,977,838.30. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,000 shares of company stock valued at $9,339,230. Insiders own 0.27% of the company's stock.

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.