Prime Capital Investment Advisors LLC Decreases Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Gilead Sciences, Inc. by 20.4% during Q2, now owning 20,209 shares valued at approximately $2.24 million.
• Despite Prime Capital's decrease, several other hedge funds increased their positions in Gilead, with notable increases including 26.7% by Valeo Financial Advisors LLC and 64.1% by Merit Financial Group LLC.
• Gilead Sciences reported a Q2 revenue of $7.08 billion, exceeding expectations, with an EPS of $2.01 beating the consensus estimate by $0.05.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,209 shares of the biopharmaceutical company's stock after selling 5,169 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Gilead Sciences were worth $2,241,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Capital Advisors Inc. OK raised its position in shares of Gilead Sciences by 8.6% during the 2nd quarter. Capital Advisors Inc. OK now owns 2,258 shares of the biopharmaceutical company's stock valued at $250,000 after buying an additional 179 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Gilead Sciences by 26.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 13,262 shares of the biopharmaceutical company's stock valued at $1,470,000 after buying an additional 2,795 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Gilead Sciences by 1.5% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 28,863 shares of the biopharmaceutical company's stock valued at $3,200,000 after purchasing an additional 415 shares during the last quarter. Merit Financial Group LLC grew its holdings in Gilead Sciences by 64.1% during the 2nd quarter. Merit Financial Group LLC now owns 47,951 shares of the biopharmaceutical company's stock valued at $5,316,000 after purchasing an additional 18,722 shares during the last quarter. Finally, Simplicity Wealth LLC grew its holdings in Gilead Sciences by 158.0% during the 2nd quarter. Simplicity Wealth LLC now owns 11,108 shares of the biopharmaceutical company's stock valued at $1,232,000 after purchasing an additional 6,802 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of GILD stock opened at $116.78 on Wednesday. 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 company has a market capitalization of $144.90 billion, a P/E ratio of 23.26, a P/E/G ratio of 0.77 and a beta of 0.34. The company's 50-day simple moving average is $114.41 and its two-hundred day simple moving average is $110.06. Gilead Sciences, Inc. has a one year low of $84.17 and a one year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the transaction, the chief executive officer directly owned 605,725 shares in the company, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were 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 in the company, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $9,402,130 in the last ninety days. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GILD. UBS Group upped their price target on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Gilead Sciences in a report on Saturday, September 27th. Finally, Rothschild & Co Redburn upped their price target on shares of Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a report on Friday, September 12th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.