L2 Asset Management LLC Raises Holdings in Gilead Sciences, Inc. $GILD

L2 Asset Management LLC lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 102.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,516 shares of the biopharmaceutical company’s stock after purchasing an additional 28,592 shares during the quarter. Gilead Sciences comprises about 1.0% of L2 Asset Management LLC’s portfolio, making the stock its 24th largest holding. L2 Asset Management LLC’s holdings in Gilead Sciences were worth $6,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Activest Wealth Management lifted its stake in shares of Gilead Sciences by 2,837.5% during the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares during the period. GoalVest Advisory LLC raised its stake in Gilead Sciences by 7,566.7% in the 2nd quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 227 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in Gilead Sciences during the 2nd quarter worth about $27,000. Putney Financial Group LLC grew its stake in Gilead Sciences by 53.4% during the 2nd quarter. Putney Financial Group LLC now owns 270 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 94 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in shares of Gilead Sciences in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In related news, Director Kelly A. Kramer sold 2,806 shares of Gilead Sciences stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $127.11, for a total value of $356,670.66. Following the sale, the director owned 1,339 shares of the company’s stock, valued at approximately $170,200.29. This trade represents a 67.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $125.08, for a total transaction of $625,400.00. Following the completion of the sale, the director directly owned 8,920 shares of the company’s stock, valued at approximately $1,115,713.60. The trade was a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 135,757 shares of company stock worth $16,616,127. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Trading Down 1.1%

Shares of Gilead Sciences stock opened at $121.22 on Monday. The firm has a 50-day simple moving average of $120.94 and a two-hundred day simple moving average of $115.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. Gilead Sciences, Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $128.70. The company has a market cap of $150.40 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.31. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $0.79 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences’s payout ratio is 48.99%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets set a $135.00 price target on shares of Gilead Sciences in a report on Tuesday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Morgan Stanley raised their target price on shares of Gilead Sciences from $143.00 to $147.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Wells Fargo & Company upped their price target on shares of Gilead Sciences from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gilead Sciences in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average price target of $130.65.

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.