Parnassus Investments LLC Has $72 Million Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Parnassus Investments LLC reduced its stake in Gilead Sciences, Inc. by 44.2%, selling 509,284 shares in the first quarter, leaving it with 642,590 shares worth approximately $72 million.
• Gilead Sciences recently reported $2.01 EPS for the quarter, exceeding estimates, with revenues of $7.08 billion, marking a year-over-year increase of 1.4%.
• The company announced a quarterly dividend of $0.79 per share, payable on September 29th, representing a 2.8% yield for investors.

Parnassus Investments LLC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 44.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642,590 shares of the biopharmaceutical company's stock after selling 509,284 shares during the period. Parnassus Investments LLC owned approximately 0.05% of Gilead Sciences worth $72,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Gilead Sciences by 1.7% during the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after acquiring an additional 1,942,433 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company's stock worth $1,647,484,000 after buying an additional 11,156,382 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Gilead Sciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after buying an additional 1,605,730 shares during the period. Royal Bank of Canada boosted its position in shares of Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after buying an additional 2,005,863 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Gilead Sciences in the first quarter worth about $620,415,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded up $0.41 during trading on Monday, hitting $112.97. 4,629,720 shares of the company traded hands, compared to its average volume of 6,308,101. The stock has a market capitalization of $140.17 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.70 and a beta of 0.36. The business's fifty day moving average is $113.01 and its 200-day moving average is $109.66. Gilead Sciences, Inc. has a one year low of $77.74 and a one year high of $121.83. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the company posted $2.01 EPS. The business's revenue for the quarter 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, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GILD shares. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" 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 price objective on the stock in a report on Friday, July 25th. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the company from $108.00 to $127.00 in a research report on Friday, August 8th. Daiwa America raised Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, UBS Group raised their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating 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 given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $115.39.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the 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 transaction, the insider directly owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This trade represents a 19.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $296,325.00. Following the transaction, the chief financial officer directly owned 160,110 shares of the company's stock, valued at approximately $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 90 days, insiders sold 82,000 shares of company stock valued at $9,371,330. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Company 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.