Gilead Sciences, Inc. $GILD Stock Holdings Lessened by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its holdings in Gilead Sciences by 16.9% during the second quarter, currently holding 12,161 shares valued at approximately $1.35 million.
• Gilead Sciences reported $2.01 earnings per share for the quarter ended August 7, exceeding expectations, with revenue of $7.08 billion.
• The company announced a quarterly dividend of $0.79, resulting in an annualized yield of 2.8%, with the ex-dividend date on September 15.

Perpetual Ltd trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,161 shares of the biopharmaceutical company's stock after selling 2,478 shares during the quarter. Perpetual Ltd's holdings in Gilead Sciences were worth $1,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Gilead Sciences by 314.6% during the 1st 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 acquiring an additional 11,156,382 shares in the last quarter. Nuveen LLC acquired a new stake in Gilead Sciences during the 1st quarter worth $620,415,000. GAMMA Investing LLC raised its stake in Gilead Sciences by 13,891.1% during the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock worth $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Gilead Sciences during the 2nd quarter worth $238,083,000. Finally, Los Angeles Capital Management LLC raised its stake in Gilead Sciences by 422.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock worth $282,706,000 after acquiring an additional 2,040,261 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $113.57, for a total transaction of $340,710.00. Following the transaction, the insider directly owned 113,193 shares in the company, valued at $12,855,329.01. This represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the transaction, the chief executive officer owned 595,725 shares in the company, valued at $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 82,000 shares of company stock valued at $9,390,030. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Trading Up 1.6%

NASDAQ:GILD traded up $1.80 during trading hours on Tuesday, reaching $114.29. 3,226,796 shares of the company were exchanged, compared to its average volume of 8,063,062. 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 cap of $141.81 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 0.77 and a beta of 0.36. Gilead Sciences, Inc. has a 52-week low of $81.83 and a 52-week high of $121.83. The stock has a 50 day simple moving average of $114.11 and a 200 day simple moving average of $109.95.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (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 prior year, the business earned $2.01 earnings per share. The business'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, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.79 per share. 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 (DPR) is presently 62.95%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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 research note on Friday, July 25th. Royal Bank Of Canada boosted their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price target on the stock in a research note on Tuesday, August 19th. Truist Financial upgraded shares of 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 note on Friday, August 8th. Finally, Rothschild & Co Redburn boosted their price target on shares of Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $117.17.

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.