Simplify Asset Management Inc. Purchases 23,866 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Simplify Asset Management boosted its Gilead Sciences stake by 63.7% in the first quarter, buying 23,866 additional shares and bringing its total to 61,345 shares worth about $8.55 million.
• Wall Street sentiment remains constructive, with 25 analysts rating GILD a Buy and the stock carrying a consensus “Moderate Buy” rating and average price target of $158.41.
• Gilead reported better-than-expected first-quarter results, including EPS of $2.03 versus $1.91 expected and revenue of $6.96 billion, while also paying a quarterly dividend of $0.82 per share.

Simplify Asset Management Inc. lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 63.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,345 shares of the biopharmaceutical company's stock after buying an additional 23,866 shares during the period. Gilead Sciences makes up approximately 0.1% of Simplify Asset Management Inc.'s portfolio, making the stock its 22nd biggest holding. Simplify Asset Management Inc.'s holdings in Gilead Sciences were worth $8,550,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC boosted its position in Gilead Sciences by 71.4% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 85 shares during the last quarter. Quattro Advisors LLC bought a new position in Gilead Sciences in the 4th quarter valued at $26,000. Wealth Preservation Advisors LLC increased its position in shares of Gilead Sciences by 60.0% during the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at $28,000. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GILD. Royal Bank Of Canada reissued a "sector perform" rating on shares of Gilead Sciences in a report on Monday, June 8th. Daiwa Securities Group decreased their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 19th. Wall Street Zen lowered shares of Gilead Sciences from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Citigroup boosted their target price on shares of Gilead Sciences from $156.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Finally, Truist Financial restated a "buy" rating and set a $157.00 price target (up from $155.00) on shares of Gilead Sciences in a research note on Friday, May 8th. Twenty-five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $158.41.

Gilead Sciences Price Performance

NASDAQ GILD opened at $131.27 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.89. The company has a market cap of $162.98 billion, a PE ratio of 17.88 and a beta of 0.32. Gilead Sciences, Inc. has a 52 week low of $107.75 and a 52 week high of $157.29. The firm's 50-day simple moving average is $129.44 and its two-hundred day simple moving average is $134.53.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.91 by $0.12. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same period in the prior year, the company earned $1.81 EPS. The company's revenue was up 4.4% on a year-over-year basis. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. Research analysts predict that Gilead Sciences, Inc. will post -0.8 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.5%. Gilead Sciences's payout ratio is presently 44.69%.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $125.40, for a total transaction of $376,200.00. Following the completion of the sale, the chief financial officer owned 171,646 shares of the company's stock, valued at $21,524,408.40. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $123.92, for a total transaction of $371,760.00. Following the sale, the insider owned 124,234 shares of the company's stock, valued at approximately $15,395,077.28. This represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 83,000 shares of company stock valued at $10,824,500. Corporate insiders own 0.30% of the company's stock.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.