The Manufacturers Life Insurance Company Sells 3,589,218 Shares of Gilead Sciences, Inc. $GILD

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Gilead Sciences by 56.9%, selling 3,589,218 shares, and now owns approximately 0.22% of the company worth around $304.7 million.
• Gilead Sciences reported earnings of $2.01 EPS and revenue of $7.08 billion for the latest quarter, beating consensus estimates and showing a 1.4% year-over-year revenue growth.
• The company declared a $0.79 quarterly dividend, payable on September 29, which translates to an annualized yield of 2.8%.

The Manufacturers Life Insurance Company decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 56.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,719,500 shares of the biopharmaceutical company's stock after selling 3,589,218 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of Gilead Sciences worth $304,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. bought a new position in Gilead Sciences during the first quarter worth about $267,000. WPG Advisers LLC bought a new position in Gilead Sciences during the first quarter worth about $108,000. Tema Etfs LLC boosted its holdings in Gilead Sciences by 25.2% during the first quarter. Tema Etfs LLC now owns 38,622 shares of the biopharmaceutical company's stock worth $4,328,000 after buying an additional 7,776 shares during the last quarter. Tri Locum Partners LP bought a new position in Gilead Sciences during the first quarter worth about $10,023,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in Gilead Sciences by 21.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 84,308 shares of the biopharmaceutical company's stock worth $9,447,000 after buying an additional 15,125 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Daiwa Capital Markets upgraded Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 price objective on the stock in a report on Tuesday, August 19th. Daiwa America upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, UBS Group lifted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued 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.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company's stock, valued at $13,532,333.04. The trade was a 19.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was 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 in the company, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $9,371,330 over the last 90 days. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Up 0.4%

Gilead Sciences stock traded up $0.41 during midday trading on Monday, reaching $112.97. The stock had a trading volume of 4,629,720 shares, compared to its average volume of 6,308,101. The firm's fifty day simple moving average is $113.01 and its 200-day simple moving average is $109.66. Gilead Sciences, Inc. has a 1-year low of $77.74 and a 1-year high of $121.83. The stock has a market capitalization of $140.17 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.36. 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 (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. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter last year, the firm earned $2.01 EPS. Gilead Sciences'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, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 dividend yield of 2.8%. Gilead Sciences's payout ratio is 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.