Panagora Asset Management Inc. Has $181.69 Million Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Panagora Asset Management Inc. increased its stake in Gilead Sciences by 98.9%, owning over 1.6 million shares worth approximately $181.69 million, making it Gilead's 20th largest holding.
• Gilead Sciences recently reported quarterly earnings of $2.01 per share, surpassing estimates, with revenues of $7.08 billion for the quarter, marking a year-over-year increase of 1.4%.
• The company declared a quarterly dividend of $0.79 per share, resulting in an annual yield of 2.8%, with a payout ratio of 62.95%.

Panagora Asset Management Inc. raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 98.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,621,524 shares of the biopharmaceutical company's stock after purchasing an additional 806,229 shares during the quarter. Gilead Sciences accounts for 0.9% of Panagora Asset Management Inc.'s portfolio, making the stock its 20th largest holding. Panagora Asset Management Inc. owned approximately 0.13% of Gilead Sciences worth $181,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after acquiring an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 109 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $1,699,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Gilead Sciences in the 1st quarter worth approximately $11,688,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Gilead Sciences by 4.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 292,966 shares of the biopharmaceutical company's stock worth $32,827,000 after buying an additional 13,194 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction 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 transaction, the insider owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. The trade was 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 hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $9,371,330 over the last ninety days. Company insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $112.97 on Friday. 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 1-year low of $77.74 and a 1-year high of $121.83. The company has a market capitalization of $140.17 billion, a P/E ratio of 22.50, a P/E/G ratio of 0.70 and a beta of 0.33. The firm's 50 day simple moving average is $113.01 and its two-hundred day simple moving average is $109.59.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $2.01 earnings per share. The company'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. Research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

GILD has been the topic of several research reports. Daiwa Capital Markets raised 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. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Royal Bank Of Canada upped 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. Finally, UBS Group upped their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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