Resolute Capital Asset Partners LLC Purchases New Position in Gilead Sciences, Inc. $GILD

Key Points

• Resolute Capital Asset Partners LLC invested approximately $4.48 million in Gilead Sciences by acquiring 40,000 shares, making it the firm's 11th largest position.
• Analysts have raised Gilead's rating to "buy" and set price targets up to $133.00, reflecting a positive outlook for the company's stock.
• Gilead Sciences announced a quarterly dividend of $0.79 per share, with a dividend yield of 2.8%, payable on September 29th to investors on record as of September 15th.

Resolute Capital Asset Partners LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 40,000 shares of the biopharmaceutical company's stock, valued at approximately $4,482,000. Gilead Sciences makes up about 2.5% of Resolute Capital Asset Partners LLC's portfolio, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Gilead Sciences by 1.7% during the 1st 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 in the last quarter. Northern Trust Corp boosted its position in shares of Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Gilead Sciences by 314.6% in 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 purchasing an additional 11,156,382 shares in the last quarter. 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 4th 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 purchasing an additional 1,605,730 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Gilead Sciences by 30.1% in the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $0.62 during trading on Monday, reaching $114.15. 3,812,165 shares of the company traded hands, compared to its average volume of 6,667,523. The firm's fifty day simple moving average is $112.57 and its 200 day simple moving average is $109.28. The stock has a market cap of $141.64 billion, a P/E ratio of 22.74, a PEG ratio of 0.70 and a beta of 0.33. Gilead Sciences, Inc. has a 12-month low of $76.42 and a 12-month high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

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 for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date 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 (DPR) is presently 62.95%.

Insider Buying and Selling

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares in the company, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $3,318,840.00. Following the transaction, the insider owned 114,168 shares of the company's stock, valued at $13,532,333.04. The trade was a 19.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,000 shares of company stock worth $9,339,230. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GILD shares. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the stock 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. 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. 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 stock a "neutral" rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.

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.