Raymond James Financial Inc. Has $228.15 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Raymond James Financial Inc. reduced its stake in Gilead Sciences by 9.3%, holding 2,036,107 shares worth approximately $228 million as of the end of the first quarter.
• Gilead Sciences reported a quarterly earnings per share (EPS) of $2.01, exceeding expectations of $1.96, with a revenue of $7.08 billion for the quarter, reflecting a 1.4% year-over-year increase.
• The company has announced a $0.79 quarterly dividend to shareholders, with an annualized yield of 2.7%, set to be paid on September 29th, 2023.

Raymond James Financial Inc. lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,036,107 shares of the biopharmaceutical company's stock after selling 208,563 shares during the quarter. Raymond James Financial Inc. owned about 0.16% of Gilead Sciences worth $228,146,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new stake in Gilead Sciences in the 1st quarter valued at $25,000. Goodman Advisory Group LLC purchased a new position in Gilead Sciences during the 1st quarter worth $29,000. Core Alternative Capital boosted its holdings in Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Gilead Sciences during the 1st quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC boosted its holdings in Gilead Sciences by 538.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 364 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $118.37 on Friday. The company has a market cap of $146.87 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.73 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The business's 50 day moving average price is $111.88 and its 200-day moving average price is $108.42. Gilead Sciences, Inc. has a fifty-two week low of $72.89 and a fifty-two week high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. During the same quarter in the previous year, the business earned $2.01 EPS. Gilead Sciences's revenue was up 1.4% compared to the same quarter last year. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is currently 62.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $108.00 to $127.00 in a report on Friday, August 8th. UBS Group lifted their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $114.82.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares in the company, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the sale, the insider owned 117,168 shares of the company's stock, valued at $13,009,163.04. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock valued at $8,734,625 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

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.

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