SVB Wealth LLC cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,643 shares of the biopharmaceutical company’s stock after selling 3,919 shares during the quarter. SVB Wealth LLC’s holdings in Gilead Sciences were worth $3,524,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Gilead Sciences in the second quarter valued at $15,393,785,000. State Street Corp boosted its stake in Gilead Sciences by 2.3% during the second quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock valued at $7,734,099,000 after buying an additional 1,357,967 shares in the last quarter. Amundi boosted its stake in Gilead Sciences by 10.7% during the first quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company’s stock valued at $1,468,836,000 after buying an additional 1,018,976 shares in the last quarter. Legal & General Group Plc bought a new position in Gilead Sciences during the second quarter valued at about $1,316,606,000. Finally, Deutsche Bank AG acquired a new position in Gilead Sciences during the second quarter worth about $918,387,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GILD has been the topic of a number of research analyst reports. Citigroup lifted their target price on Gilead Sciences from $165.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Cantor Fitzgerald upped their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Argus set a $190.00 price objective on shares of Gilead Sciences in a research report on Thursday. TD Cowen lifted their price objective on shares of Gilead Sciences from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Finally, Jefferies Financial Group set a $196.00 price objective on shares of Gilead Sciences in a research note on Wednesday, November 4th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.07.
Read Our Latest Report on Gilead Sciences
Top Gilead Sciences Stories
These are some of the GILD stories that stood out recently:
- Positive Sentiment: Gilead’s HIV business is highlighted as a growth driver: Yeztugo sales are gaining momentum, Biktarvy remains a market leader, and the company has an expanding pipeline. Article: Can Gilead Sciences’ HIV Business Fuel Sustainable Long-Term Growth?
- Neutral Sentiment: Gilead announced a collaboration with TelevisaUnivision and the Latin GRAMMY Awards to promote HIV-prevention awareness. The initiative may support outreach but does not indicate a direct near-term financial impact. Article: Gilead Brings HIV Prevention to the 27th Annual Latin GRAMMY Awards
- Negative Sentiment: Drug-price negotiations in Washington are cited as a near-term risk for Gilead, as lower prices could pressure revenue. The article does not quantify the potential impact. Article: Lilly, Gilead Face Near-Term Drug Pricing Risks As Washington Turns Up Heat
Gilead Sciences Price Performance
NASDAQ GILD opened at $167.95 on Friday. The stock’s 50-day moving average price is $154.76 and its two-hundred day moving average price is $141.66. The company has a current ratio of 1.38, a quick ratio of 1.22 and a debt-to-equity ratio of 1.84. The company has a market cap of $208.31 billion, a PE ratio of -53.15 and a beta of 0.35. Gilead Sciences, Inc. has a 1 year low of $116.88 and a 1 year high of $176.58.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.36. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.81 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Gilead Sciences, Inc. will post -0.98 EPS for the current year.
Gilead Sciences Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.0%. Gilead Sciences’s payout ratio is currently -103.80%.
Insider Activity
In related news, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $156.22, for a total value of $468,660.00. Following the completion of the transaction, the insider owned 113,684 shares of the company’s stock, valued at approximately $17,759,714.48. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Wettan Keeley M. Cain sold 3,399 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $164.11, for a total transaction of $557,809.89. Following the transaction, the executive vice president owned 5,360 shares in the company, valued at approximately $879,629.60. The trade was a 38.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 242,709 shares of company stock worth $39,503,427 over the last three months. 0.30% of the stock is owned by insiders.
Gilead Sciences Company Profile
Gilead Sciences, Inc. is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C. Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.
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