Te Ahumairangi Investment Management Ltd Sells 6,869 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its stake in Gilead Sciences, Inc. by 12.1%, now holding 49,752 shares valued at approximately $5.57 million.
• Gilead Sciences reported $2.01 EPS in its latest quarterly earnings, exceeding analysts' estimates, and had a revenue of $7.08 billion, representing a 1.4% increase from the previous year.
• The company has declared a quarterly dividend of $0.79 per share, with an annualized dividend yield of 2.8% and a payout ratio of 62.95%.

Te Ahumairangi Investment Management Ltd decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,752 shares of the biopharmaceutical company's stock after selling 6,869 shares during the quarter. Gilead Sciences comprises approximately 1.2% of Te Ahumairangi Investment Management Ltd's investment portfolio, making the stock its 27th largest position. Te Ahumairangi Investment Management Ltd's holdings in Gilead Sciences were worth $5,575,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in Gilead Sciences during the 1st quarter worth approximately $108,000. Tema Etfs LLC raised its holdings in Gilead Sciences by 25.2% during the 1st quarter. Tema Etfs LLC now owns 38,622 shares of the biopharmaceutical company's stock worth $4,328,000 after purchasing an additional 7,776 shares during the last quarter. Tri Locum Partners LP bought a new position in Gilead Sciences during the 1st quarter worth approximately $10,023,000. OMERS ADMINISTRATION Corp raised its holdings in Gilead Sciences by 21.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 84,308 shares of the biopharmaceutical company's stock worth $9,447,000 after purchasing an additional 15,125 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in shares of Gilead Sciences by 63.0% during the 1st quarter. Truvestments Capital LLC now owns 2,613 shares of the biopharmaceutical company's stock worth $293,000 after buying an additional 1,010 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Up 0.4%

GILD stock traded up $0.41 during midday trading on Monday, reaching $112.97. 4,629,720 shares of the company's stock traded hands, compared to its average volume of 6,308,101. The company has a market cap of $140.17 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.70 and a beta of 0.36. The firm's fifty day moving average price is $113.01 and its 200-day moving average price is $109.66. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52 week low of $77.74 and a 52 week high of $121.83.

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 business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the previous year, the business posted $2.01 EPS. Gilead Sciences's quarterly revenue was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's payout ratio is currently 62.95%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank Of Canada lifted 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. Daiwa Capital Markets upgraded shares of Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective for the company in a research note on Tuesday, August 19th. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Finally, Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and an average price target of $115.39.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the transaction, the chief executive officer directly owned 605,725 shares of the company's stock, valued at $69,016,306.50. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the transaction, the director directly owned 8,920 shares in the company, valued at $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock valued at $9,371,330 over the last quarter. 0.27% of the stock is owned by insiders.

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.