Gilead Sciences, Inc. $GILD Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Gilead Sciences by 4.6%, selling 13,787 shares, resulting in a total of 286,929 shares valued at approximately $31.81 million.
• Gilead Sciences declared a quarterly dividend of $0.79 per share, which will be paid to shareholders with a total annualized dividend of $3.16 and a yield of 2.8%.
• Gilead reported $2.01 earnings per share for its latest quarter, exceeding analysts' expectations, with total revenue of $7.08 billion compared to expected $6.95 billion.

Wedge Capital Management L L P NC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 4.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 286,929 shares of the biopharmaceutical company's stock after selling 13,787 shares during the quarter. Wedge Capital Management L L P NC's holdings in Gilead Sciences were worth $31,812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences in the first quarter worth approximately $25,000. Activest Wealth Management increased its holdings in Gilead Sciences by 2,837.5% in the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 227 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Gilead Sciences during the 1st quarter valued at about $29,000. Colonial Trust Advisors lifted its holdings in Gilead Sciences by 304.3% in the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 213 shares in the last quarter. Finally, Core Alternative Capital lifted its holdings in Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Dbs Bank raised Gilead Sciences to a "moderate buy" rating in a research report on Friday, September 5th. Rothschild & Co Redburn raised their target price on Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Royal Bank Of Canada boosted their price target on Gilead Sciences from $96.00 to $98.00 and gave the company 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, August 19th. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and an average target price of $117.17.

Gilead Sciences Stock Performance

Gilead Sciences stock traded up $0.47 on Friday, reaching $114.09. 12,580,487 shares of the stock were exchanged, compared to its average volume of 6,195,682. The firm has a fifty day moving average price of $114.10 and a two-hundred day moving average price of $109.98. The stock has a market cap of $141.56 billion, a PE ratio of 22.73, a PEG ratio of 0.77 and a beta of 0.36. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a twelve month low of $81.83 and a twelve month high of $121.83.

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, beating the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. Gilead Sciences's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm 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 $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total value of $1,136,300.00. Following the transaction, the chief executive officer directly owned 595,725 shares of the company's stock, valued at approximately $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $113.57, for a total transaction of $283,925.00. Following the completion of the transaction, the chief financial officer owned 159,555 shares in the company, valued at approximately $18,120,661.35. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,000 shares of company stock valued at $9,390,030. 0.27% of the stock is currently owned by insiders.

Gilead Sciences 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.