WBI Investments LLC Sells 7,266 Shares of Gilead Sciences, Inc. $GILD

Key Points

• WBI Investments LLC has reduced its stake in Gilead Sciences by 24.9%, selling 7,266 shares and retaining 21,880 shares valued at approximately $2.45 million.
• Multiple analysts have upgraded Gilead Sciences’ stock rating, with a consensus price target of $115.39, suggesting a positive outlook for the company's growth.
• Gilead Sciences declared a quarterly dividend of $0.79 per share, representing an annualized yield of 2.7%, set to be paid out on September 29th.

WBI Investments LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,880 shares of the biopharmaceutical company's stock after selling 7,266 shares during the period. WBI Investments LLC's holdings in Gilead Sciences were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GILD. Brighton Jones LLC increased its holdings in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after acquiring an additional 2,450 shares during the last quarter. Bison Wealth LLC bought a new stake in Gilead Sciences in the 4th quarter valued at $215,000. Nuveen Asset Management LLC increased its holdings in Gilead Sciences by 16.2% in the 4th quarter. Nuveen Asset Management LLC now owns 5,208,321 shares of the biopharmaceutical company's stock valued at $481,093,000 after acquiring an additional 724,493 shares during the last quarter. NorthRock Partners LLC increased its holdings in Gilead Sciences by 280.3% in the 4th quarter. NorthRock Partners LLC now owns 11,207 shares of the biopharmaceutical company's stock valued at $1,035,000 after acquiring an additional 8,260 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after acquiring an additional 14,009 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Daiwa America upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report 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 on the stock in a report on Friday, July 25th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, Dbs Bank upgraded shares of Gilead Sciences to a "moderate buy" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $115.39.

Gilead Sciences Price Performance

GILD stock opened at $115.25 on Thursday. Gilead Sciences, Inc. has a 12 month low of $79.64 and a 12 month high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average price of $113.84 and a 200 day moving average price of $110.02. The stock has a market cap of $143.00 billion, a PE ratio of 22.96, a P/E/G ratio of 0.78 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping 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 firm had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. During the same period in the previous year, the company earned $2.01 EPS. The firm'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. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $296,325.00. Following the completion of the transaction, the chief financial officer directly owned 160,110 shares of the company's stock, valued at approximately $18,977,838.30. The trade was a 1.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the completion of the sale, the insider directly owned 114,168 shares of the company's stock, valued at approximately $13,532,333.04. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $9,371,330 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.