Park Avenue Securities LLC Grows Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Park Avenue Securities LLC increased its position in Gilead Sciences, Inc. by 84.4% during the second quarter, acquiring an additional 34,195 shares valued at approximately $8.3 million.
• Multiple analysts have upgraded Gilead Sciences' rating, with target prices ranging from $112.00 to $145.00, reflecting a positive outlook for the biopharmaceutical company.
• The company declared a quarterly dividend of $0.79 per share, with an annual yield of 2.8%, indicating a steady commitment to returning value to shareholders.

Park Avenue Securities LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 84.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,728 shares of the biopharmaceutical company's stock after acquiring an additional 34,195 shares during the quarter. Park Avenue Securities LLC's holdings in Gilead Sciences were worth $8,285,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the first quarter worth about $25,000. Activest Wealth Management lifted its stake in shares of Gilead Sciences by 2,837.5% in the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 227 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Colonial Trust Advisors raised its holdings in shares of Gilead Sciences by 304.3% during the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 213 shares during the last quarter. Finally, Core Alternative Capital raised its holdings in shares of Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Dbs Bank raised shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. UBS Group upped their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research report on Friday, July 25th. Daiwa Capital Markets upgraded shares of 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, August 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $117.17.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the sale, the chief financial officer owned 160,110 shares in the company, valued at $18,977,838.30. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,000 shares of company stock worth $9,390,030. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

GILD opened at $114.09 on Monday. The stock has a market cap of $141.56 billion, a P/E ratio of 22.73, a P/E/G ratio of 0.77 and a beta of 0.36. The firm has a fifty day moving average price of $114.10 and a 200 day moving average price of $109.98. 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 $81.83 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping 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 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 earned $2.01 EPS. The firm's 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. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given 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 payout ratio is presently 62.95%.

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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