Banque Pictet & Cie SA Grows Stock Holdings in Gilead Sciences, Inc. $GILD

Banque Pictet & Cie SA increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 101.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,586 shares of the biopharmaceutical company’s stock after buying an additional 37,633 shares during the quarter. Banque Pictet & Cie SA’s holdings in Gilead Sciences were worth $8,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GILD. Brighton Jones LLC grew its stake in shares of 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 purchasing an additional 2,450 shares during the last quarter. Bison Wealth LLC purchased a new position in Gilead Sciences in the 4th quarter valued at $215,000. Centaurus Financial Inc. grew its position in Gilead Sciences by 37.7% in the 4th quarter. Centaurus Financial Inc. now owns 4,862 shares of the biopharmaceutical company’s stock valued at $449,000 after buying an additional 1,332 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at about $554,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Gilead Sciences by 26.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,606 shares of the biopharmaceutical company’s stock valued at $852,000 after acquiring an additional 1,575 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the transaction, the chief executive officer owned 595,725 shares of the company’s stock, valued at $67,692,231.75. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer directly owned 160,110 shares in the company, valued at $18,977,838.30. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,000 shares of company stock worth $9,390,030. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $110.99 on Friday. Gilead Sciences, Inc. has a 1 year low of $81.83 and a 1 year high of $121.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The stock’s 50 day moving average price is $114.34 and its 200 day moving average price is $109.96. The firm has a market cap of $137.72 billion, a P/E ratio of 22.11, a PEG ratio of 0.77 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (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 the consensus estimate of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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 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 yield of 2.8%. Gilead Sciences’s dividend payout ratio (DPR) is currently 62.95%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a report on Friday, July 25th. Daiwa Capital Markets upgraded Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price target on the stock in a research note on Tuesday, August 19th. Truist Financial upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Rothschild & Co Redburn lifted their price target on Gilead Sciences from $136.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, 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 research report on Friday, August 8th. Three equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.17.

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.