Point72 Europe London LLP Boosts Stake in Gilead Sciences, Inc. $GILD

Key Points

• Point72 Europe London LLP increased its holdings in Gilead Sciences by 20.2%, acquiring an additional 14,206 shares, bringing their total to 84,700 shares valued at approximately $9.49 million.
• Gilead Sciences reported $2.01 earnings per share (EPS) for the last quarter, exceeding estimates, with a revenue of $7.08 billion that also beat analyst expectations.
• The company has announced a quarterly dividend of $0.79, translating to an annual yield of 2.8%, with the payment date set for September 29th.

Point72 Europe London LLP raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,700 shares of the biopharmaceutical company's stock after acquiring an additional 14,206 shares during the period. Point72 Europe London LLP's holdings in Gilead Sciences were worth $9,491,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GILD. Redwood Financial Network Corp boosted its holdings in Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after acquiring an additional 98 shares during the period. Argentarii LLC raised 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 worth $380,000 after acquiring an additional 99 shares in the last quarter. Peak Financial Advisors LLC raised 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 worth $677,000 after acquiring an additional 100 shares in the last quarter. Perkins Coie Trust Co raised 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 worth $435,000 after acquiring an additional 100 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. increased its position in Gilead Sciences by 33.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 100 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer directly owned 160,110 shares in the company, 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. In the last ninety days, insiders sold 82,000 shares of company stock worth $9,371,330. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GILD shares. 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, August 19th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the company from $108.00 to $127.00 in a research report on Friday, August 8th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.39.

Gilead Sciences Price Performance

Shares of GILD stock traded up $0.28 during trading hours on Wednesday, hitting $112.99. The stock had a trading volume of 4,419,884 shares, compared to its average volume of 6,026,389. Gilead Sciences, Inc. has a one year low of $77.74 and a one year 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 stock's 50-day moving average price is $113.25 and its two-hundred day moving average price is $109.74. The stock has a market capitalization of $140.20 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 0.70 and a beta of 0.36.

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 for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The firm'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. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm 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 dividend of $0.79 per share. The ex-dividend date of this dividend 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 is currently 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.