Napa Wealth Management Sells 15,783 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Napa Wealth Management reduced its holdings in Gilead Sciences by 64.8%, selling 15,783 shares and leaving it with 8,564 shares valued at approximately $960,000.
• Gilead Sciences reported a net revenue of $7.08 billion for the quarter, exceeding analysts' expectations of $6.95 billion, and achieved an earnings per share of $2.01.
• The company declared a quarterly dividend of $0.79, representing an annual yield of 2.8%, with the dividend payout date set for September 29th.

Napa Wealth Management cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 64.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,564 shares of the biopharmaceutical company's stock after selling 15,783 shares during the period. Napa Wealth Management's holdings in Gilead Sciences were worth $960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new position in Gilead Sciences during the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Colonial Trust Advisors lifted its position in Gilead Sciences by 304.3% during the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 213 shares in the last quarter. Core Alternative Capital lifted 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 worth $34,000 after acquiring an additional 241 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in Gilead Sciences during the 1st quarter worth approximately $39,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on GILD shares. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $108.00 to $127.00 in a research report on Friday, August 8th. Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective on the stock in a report on Tuesday, August 19th. Finally, Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.

Gilead Sciences Stock Performance

GILD traded down $0.62 during trading on Monday, reaching $114.15. 3,812,165 shares of the company were exchanged, compared to its average volume of 6,667,523. The stock 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. The firm has a 50 day moving average of $112.57 and a 200 day moving average of $109.28. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52 week low of $76.42 and a 52 week high of $121.83.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm's quarterly revenue was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the completion of the sale, the insider directly owned 114,168 shares of the company's stock, valued at $13,532,333.04. This represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,000 shares of company stock worth $9,339,230. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences 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.