Gilead Sciences, Inc. $GILD Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp decreased its holdings in Gilead Sciences by 3.2%, selling 478,713 shares and now owns approximately 1.16% of the company, valued at $1.6 billion.
• Gilead Sciences recently reported quarterly earnings of $2.01 per share, surpassing analyst expectations, and achieved a revenue of $7.08 billion.
• Gilead announced a quarterly dividend of $0.79, which reflects an annualized payout of $3.16 and a dividend yield of 2.7%.

Northern Trust Corp reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,436,382 shares of the biopharmaceutical company's stock after selling 478,713 shares during the period. Northern Trust Corp owned 1.16% of Gilead Sciences worth $1,617,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GILD. Redwood Financial Network Corp boosted its position 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 purchasing an additional 98 shares during the period. Argentarii LLC boosted its position 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 purchasing an additional 99 shares during the period. Peak Financial Advisors LLC boosted its position 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 purchasing an additional 100 shares during the period. Perkins Coie Trust Co boosted its position 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 purchasing an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. boosted its position 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 purchasing an additional 100 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 1.2%

GILD stock traded down $1.37 during trading on Friday, reaching $114.77. 5,481,103 shares of the stock traded hands, compared to its average volume of 8,276,482. The business's 50 day moving average price is $112.41 and its 200-day moving average price is $108.90. Gilead Sciences, Inc. has a 52-week low of $75.91 and a 52-week 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. The firm has a market capitalization of $142.41 billion, a PE ratio of 22.86, a P/E/G ratio of 0.73 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the business earned $2.01 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Insider Buying and Selling

In other news, insider Johanna Mercier sold 28,000 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 value of $3,318,840.00. Following the completion of the sale, the insider owned 114,168 shares in the company, valued at approximately $13,532,333.04. This trade represents a 19.70% 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 link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the 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 completion of the sale, the chief financial officer owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock worth $9,339,230 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the subject of a number of recent research reports. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. UBS Group increased their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada increased their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a research report on Tuesday. Finally, Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price target for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Three research 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 company's stock. According to MarketBeat, the company has a consensus 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.