SCS Capital Management LLC Invests $853,000 in Gilead Sciences, Inc. $GILD

Key Points

• SCS Capital Management LLC invested $853,000 in Gilead Sciences by acquiring 7,608 shares in the first quarter.
• Multiple hedge funds increased their holdings in Gilead, with notable increases including Brighton Jones LLC and NorthRock Partners LLC, highlighting strong institutional interest in the company.
• Gilead Sciences recently declared a quarterly dividend of $0.79 per share, indicating a yield of 2.7%, and has set an FY 2025 guidance of 7.950-8.250 EPS.

SCS Capital Management LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,608 shares of the biopharmaceutical company's stock, valued at approximately $853,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares in the last quarter. Bison Wealth LLC purchased a new position in Gilead Sciences in the 4th quarter worth approximately $215,000. Nuveen Asset Management LLC lifted its holdings in Gilead Sciences by 16.2% in the 4th quarter. Nuveen Asset Management LLC now owns 5,208,321 shares of the biopharmaceutical company's stock worth $481,093,000 after purchasing an additional 724,493 shares in the last quarter. NorthRock Partners LLC increased its holdings in shares of Gilead Sciences by 280.3% in the fourth quarter. NorthRock Partners LLC now owns 11,207 shares of the biopharmaceutical company's stock worth $1,035,000 after purchasing an additional 8,260 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a report on Tuesday, August 19th. UBS Group lifted their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.39.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $296,325.00. Following the transaction, the chief financial officer directly owned 160,110 shares in the company, valued at approximately $18,977,838.30. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider owned 114,168 shares in the company, valued at $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,000 shares of company stock valued at $9,371,330. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Down 0.4%

Shares of NASDAQ:GILD opened at $115.25 on Thursday. 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, Inc. has a 12 month low of $79.64 and a 12 month high of $121.83. The company has a 50-day moving average price of $113.84 and a 200 day moving average price of $110.02. The company has a market cap of $143.00 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.78 and a beta of 0.36.

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

Gilead Sciences Announces Dividend

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

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