MetLife Investment Management LLC Trims Position in Gilead Sciences, Inc. $GILD

Key Points

• MetLife Investment Management LLC reduced its holdings in Gilead Sciences by 1.9%, ending the first quarter with 323,731 shares valued at approximately $36.27 million.
• Insider Johanna Mercier sold 28,000 shares of Gilead on August 15th, representing a 19.7% decrease in her position, and insiders have collectively sold 82,000 shares in the last quarter.
• The company's stock is currently rated as a Moderate Buy by analysts, with a consensus price target of $115.39, following various upgrades from different research firms.

MetLife Investment Management LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,731 shares of the biopharmaceutical company's stock after selling 6,167 shares during the quarter. MetLife Investment Management LLC's holdings in Gilead Sciences were worth $36,274,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new position in Gilead Sciences during the first quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences in the 1st quarter valued at $29,000. Colonial Trust Advisors boosted its position in shares of Gilead Sciences by 304.3% during the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 213 shares in the last quarter. Core Alternative Capital increased its position in shares of Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Down 1.2%

GILD traded down $1.36 during trading on Thursday, reaching $112.56. 4,145,607 shares of the stock were exchanged, compared to its average volume of 8,193,241. The stock has a market cap of $139.67 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.33. Gilead Sciences, Inc. has a twelve month low of $77.74 and a twelve month high of $121.83. The stock's 50 day moving average price is $112.83 and its two-hundred day moving average price is $109.35. 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 issued 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 business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

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

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer owned 160,110 shares of the company's stock, valued at $18,977,838.30. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were 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 owned 605,725 shares in the company, valued at $69,016,306.50. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 82,000 shares of company stock worth $9,339,230. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Daiwa America raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. UBS Group raised their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research note on Friday, July 25th. Finally, Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and an average 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.