Sit Investment Associates Inc. Sells 4,340 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Sit Investment Associates Inc. reduced its holdings in Gilead Sciences by 30.3%, now owning 9,975 shares valued at $1.12 million.
• Gilead Sciences reported a quarterly earnings per share of $2.01, surpassing analyst expectations, with revenues achieving $7.08 billion, indicating a 1.4% increase year-over-year.
• Wall Street analysts have mixed ratings for Gilead, with a consensus price target of $114.82 and multiple buy recommendations reflecting a generally optimistic outlook on the stock.

Sit Investment Associates Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 30.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,975 shares of the biopharmaceutical company's stock after selling 4,340 shares during the quarter. Sit Investment Associates Inc.'s holdings in Gilead Sciences were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its position in shares of Gilead Sciences by 5.2% during 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 acquiring an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Gilead Sciences by 14.5% during the first quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 109 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter worth $1,699,000. Capital International Inc. CA raised its position in shares of Gilead Sciences by 23.8% during the fourth quarter. Capital International Inc. CA now owns 312,209 shares of the biopharmaceutical company's stock worth $28,839,000 after acquiring an additional 60,035 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Gilead Sciences during the first quarter worth $11,688,000. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider directly owned 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director directly owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,000 shares of company stock valued at $12,349,790. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Trading Up 0.9%

Shares of Gilead Sciences stock traded up $1.0850 during trading hours on Wednesday, hitting $119.0650. The company's stock had a trading volume of 2,802,010 shares, compared to its average volume of 8,294,961. Gilead Sciences, Inc. has a 12 month low of $74.80 and a 12 month high of $121.83. The stock has a 50 day moving average of $112.14 and a 200 day moving average of $108.71. The company has a market capitalization of $147.74 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.72 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.7%. Gilead Sciences's dividend payout ratio is 62.95%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a report on Tuesday. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a report on Friday, July 25th. Finally, Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their price objective for the company from $108.00 to $127.00 in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.