Bleakley Financial Group LLC Lowers Position in Gilead Sciences, Inc. $GILD

Bleakley Financial Group LLC cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 33.0% in the second quarter, HoldingsChannel.com reports. The firm owned 27,444 shares of the biopharmaceutical company’s stock after selling 13,535 shares during the quarter. Bleakley Financial Group LLC’s holdings in Gilead Sciences were worth $3,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Gilead Sciences in the first quarter valued at $25,000. Activest Wealth Management raised its position in shares of Gilead Sciences by 2,837.5% during the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 227 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth about $27,000. Goodman Advisory Group LLC purchased a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Finally, Colonial Trust Advisors grew its stake in Gilead Sciences by 304.3% during the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the transaction, the insider directly owned 114,168 shares of the company’s stock, valued at approximately $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences 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 sale, the chief executive officer directly owned 595,725 shares of the company’s stock, valued at approximately $67,692,231.75. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,500 shares of company stock valued at $8,281,540. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GILD shares. Daiwa America upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Cantor Fitzgerald lifted their price objective on Gilead Sciences from $129.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Daiwa Capital Markets raised Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price target for the company in a report on Tuesday, August 19th. Rothschild & Co Redburn boosted their price target on Gilead Sciences from $136.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Wolfe Research upped their target price on Gilead Sciences from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.61.

Gilead Sciences Trading Down 0.6%

Shares of NASDAQ GILD opened at $120.74 on Friday. The company has a market cap of $149.82 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 0.83 and a beta of 0.34. Gilead Sciences, Inc. has a 12-month low of $86.08 and a 12-month high of $124.61. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The stock’s 50 day simple moving average is $115.41 and its 200 day simple moving average is $110.89.

Gilead Sciences (NASDAQ:GILD) last posted its 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. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same period last year, the firm earned $2.01 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, September 15th. Gilead Sciences’s payout ratio is presently 62.95%.

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.