Ridgewood Investments LLC Trims Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Ridgewood Investments LLC significantly reduced its stake in Gilead Sciences by 46.5%, now holding 4,657 shares valued at approximately $516,000.
• Several institutional investors have increased their positions in Gilead, with notable purchases including Brighton Jones LLC growing its holdings by 20.6%.
• Gilead Sciences announced a quarterly dividend of $0.79 per share, yielding 2.8%, with a total annualized payout expected to be $3.16.

Ridgewood Investments LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 46.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,657 shares of the biopharmaceutical company's stock after selling 4,045 shares during the period. Ridgewood Investments LLC's holdings in Gilead Sciences were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares during the period. Bison Wealth LLC acquired a new position in Gilead Sciences in the 4th quarter valued at about $215,000. North Star Asset Management Inc. acquired a new position in Gilead Sciences in the 4th quarter valued at about $201,000. Formidable Asset Management LLC acquired a new position in Gilead Sciences in the 4th quarter valued at about $212,000. Finally, Toronto Dominion Bank boosted its holdings in Gilead Sciences by 11.0% in the 4th quarter. Toronto Dominion Bank now owns 710,523 shares of the biopharmaceutical company's stock valued at $65,631,000 after purchasing an additional 70,551 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Dbs Bank raised shares of Gilead Sciences to a "moderate buy" rating in a research note on Friday, September 5th. Daiwa America raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. UBS Group boosted their price target on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $117.17.

Gilead Sciences Trading Up 0.4%

Shares of Gilead Sciences stock opened at $114.09 on Monday. The company has a fifty day simple moving average of $114.10 and a 200-day simple moving average of $109.98. Gilead Sciences, Inc. has a 12-month low of $81.83 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. The stock has a market cap of $141.56 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.77 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The company'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. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 yield of 2.8%. Gilead Sciences's dividend payout ratio is currently 62.95%.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief executive officer owned 595,725 shares in the company, valued at $67,692,231.75. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $113.57, for a total transaction of $283,925.00. Following the sale, the chief financial officer owned 159,555 shares of the company's stock, valued at approximately $18,120,661.35. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $9,390,030 in the last 90 days. Company insiders own 0.27% of the company's stock.

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.

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