Korea Investment CORP Cuts Stock Position in Gilead Sciences, Inc. $GILD

Korea Investment CORP lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,142,072 shares of the biopharmaceutical company’s stock after selling 98,262 shares during the period. Korea Investment CORP owned approximately 0.09% of Gilead Sciences worth $126,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position 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 acquiring an additional 2,450 shares during the period. Bison Wealth LLC acquired a new position in shares of Gilead Sciences in the fourth quarter valued at about $215,000. XTX Topco Ltd increased its holdings in shares of Gilead Sciences by 76.8% in the first quarter. XTX Topco Ltd now owns 9,156 shares of the biopharmaceutical company’s stock valued at $1,026,000 after purchasing an additional 3,976 shares during the period. Brucke Financial Inc. purchased a new position in shares of Gilead Sciences in the first quarter worth about $244,000. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Gilead Sciences by 94.6% during the first quarter. Arkadios Wealth Advisors now owns 45,750 shares of the biopharmaceutical company’s stock worth $5,126,000 after purchasing an additional 22,240 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 0.3%

Shares of NASDAQ:GILD opened at $127.51 on Thursday. The business’s 50 day moving average price is $119.36 and its 200-day moving average price is $114.25. Gilead Sciences, Inc. has a 1 year low of $88.57 and a 1 year high of $128.70. The firm has a market capitalization of $158.20 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.81 and a beta of 0.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.16 by $0.31. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.42 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s payout ratio is presently 48.99%.

Analyst Ratings Changes

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. UBS Group increased their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Needham & Company LLC raised their target price on shares of Gilead Sciences from $133.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Gilead Sciences in a report on Monday, November 3rd. Finally, Citigroup increased their price target on Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $130.65.

Insider Transactions at Gilead Sciences

In related news, EVP Deborah H. Telman sold 53,646 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $122.85, for a total transaction of $6,590,411.10. Following the transaction, the executive vice president directly owned 43,676 shares in the company, valued at approximately $5,365,596.60. The trade was a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $125.86, for a total value of $3,524,080.00. Following the completion of the sale, the insider directly owned 107,193 shares of the company’s stock, valued at approximately $13,491,310.98. This represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,146 shares of company stock valued at $14,012,141 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.