Shell Asset Management Co. Buys 22,026 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Shell Asset Management Co. increased its stake in Gilead Sciences by 34.1%, acquiring an additional 22,026 shares during the 2nd quarter, bringing their total to 86,589 shares valued at $9.6 million.
• Multiple hedge funds have modified their positions in Gilead, indicating increased institutional interest, with 83.67% of the stock now owned by institutional investors.
• Gilead Sciences reported earnings of $2.01 EPS, beating estimates, and also announced a quarterly dividend of $0.79, reflecting a 2.8% annualized yield.

Shell Asset Management Co. boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 34.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,589 shares of the biopharmaceutical company's stock after purchasing an additional 22,026 shares during the quarter. Shell Asset Management Co.'s holdings in Gilead Sciences were worth $9,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. One Wealth Advisors LLC raised its position in Gilead Sciences by 34.8% in the 2nd quarter. One Wealth Advisors LLC now owns 9,163 shares of the biopharmaceutical company's stock worth $1,016,000 after purchasing an additional 2,364 shares during the period. Ariel Investments LLC boosted its stake in Gilead Sciences by 7.7% in the 1st quarter. Ariel Investments LLC now owns 430,424 shares of the biopharmaceutical company's stock worth $48,229,000 after purchasing an additional 30,630 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after buying an additional 109 shares during the period. Covea Finance lifted its holdings in shares of Gilead Sciences by 69.5% in the 2nd quarter. Covea Finance now owns 51,700 shares of the biopharmaceutical company's stock valued at $5,732,000 after buying an additional 21,200 shares during the period. Finally, Swedbank AB grew its position in Gilead Sciences by 0.8% during the first quarter. Swedbank AB now owns 2,118,632 shares of the biopharmaceutical company's stock valued at $237,393,000 after buying an additional 16,663 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GILD. Daiwa Capital Markets raised shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a research note on Tuesday, August 19th. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Dbs Bank raised shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $117.17.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction that occurred 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 owned 605,725 shares in the company, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $113.57, for a total value of $283,925.00. Following the completion of the transaction, the chief financial officer owned 159,555 shares of the company's stock, valued at $18,120,661.35. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,000 shares of company stock valued at $9,402,130. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Trading Up 0.8%

NASDAQ GILD opened at $113.58 on Tuesday. The company's 50 day moving average price is $114.36 and its 200 day moving average price is $110.01. The firm has a market capitalization of $140.93 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. 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 announced its earnings results 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. The company had revenue of $7.08 billion for 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%.Gilead Sciences's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $0.79 dividend. The ex-dividend date was 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%.

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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