Concurrent Investment Advisors LLC Grows Position in Gilead Sciences, Inc. $GILD

Concurrent Investment Advisors LLC raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 40.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,811 shares of the biopharmaceutical company’s stock after buying an additional 15,164 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Gilead Sciences were worth $5,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. One Wealth Advisors LLC boosted its holdings in shares of Gilead Sciences by 34.8% in the 2nd quarter. One Wealth Advisors LLC now owns 9,163 shares of the biopharmaceutical company’s stock worth $1,016,000 after purchasing an additional 2,364 shares during the period. Ariel Investments LLC raised its position in Gilead Sciences by 7.7% during the 1st quarter. Ariel Investments LLC now owns 430,424 shares of the biopharmaceutical company’s stock valued at $48,229,000 after purchasing an additional 30,630 shares in the last quarter. Golden State Wealth Management LLC raised its position in Gilead Sciences by 14.5% during the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 109 shares in the last quarter. Covea Finance raised its position in Gilead Sciences by 69.5% during the 2nd quarter. Covea Finance now owns 51,700 shares of the biopharmaceutical company’s stock valued at $5,732,000 after purchasing an additional 21,200 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Gilead Sciences by 0.8% in the 1st quarter. Swedbank AB now owns 2,118,632 shares of the biopharmaceutical company’s stock valued at $237,393,000 after acquiring an additional 16,663 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $111.66, for a total transaction of $1,116,600.00. Following the completion of the transaction, the chief executive officer directly owned 591,203 shares in the company, valued at $66,013,726.98. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $3,318,840.00. Following the transaction, the insider owned 114,168 shares of the company’s stock, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,000 shares of company stock worth $8,853,430. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $117.18 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The business has a 50 day simple moving average of $114.65 and a 200-day simple moving average of $110.25. The firm has a market capitalization of $145.40 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.80 and a beta of 0.34. Gilead Sciences, Inc. has a 1 year low of $84.17 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. 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. Equities research analysts anticipate 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 was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, September 15th. Gilead Sciences’s dividend payout ratio is presently 62.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Dbs Bank upgraded Gilead Sciences to a “moderate buy” rating in a report on Friday, September 5th. 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. Cantor Fitzgerald boosted their price objective on Gilead Sciences from $129.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gilead Sciences in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.08.

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.