Grant Private Wealth Management Inc Takes $1.58 Million Position in Gilead Sciences, Inc. $GILD

Grant Private Wealth Management Inc bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,287 shares of the biopharmaceutical company's stock, valued at approximately $1,584,000.

• Biotech Sector May Flip to Market Leader by Year-End

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in Gilead Sciences by 11.3% during the second quarter. Farther Finance Advisors LLC now owns 41,710 shares of the biopharmaceutical company's stock worth $4,624,000 after purchasing an additional 4,223 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in Gilead Sciences during the second quarter valued at about $415,000. CX Institutional grew its stake in shares of Gilead Sciences by 2.7% during the second quarter. CX Institutional now owns 70,493 shares of the biopharmaceutical company's stock valued at $7,816,000 after purchasing an additional 1,846 shares during the last quarter. Wright Investors Service Inc. grew its position in shares of Gilead Sciences by 0.6% in the 2nd quarter. Wright Investors Service Inc. now owns 50,947 shares of the biopharmaceutical company's stock valued at $5,648,000 after purchasing an additional 282 shares during the period. Finally, My Legacy Advisors LLC bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $360,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insiders Place Their Bets

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $113.63, for a total value of $1,136,300.00. Following the transaction, the chief executive officer owned 595,725 shares in the company, valued at approximately $67,692,231.75. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $3,318,840.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,000 shares of company stock worth $9,390,030. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

• 3 Biotech Giants Gaining From U.S. Sales and Policy Shifts

A number of brokerages have recently commented on GILD. Dbs Bank raised Gilead Sciences to a "moderate buy" rating in a research report on Friday, September 5th. 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 report on Friday, August 8th. Royal Bank Of Canada increased their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Daiwa Capital Markets upgraded shares of 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. Finally, Rothschild & Co Redburn upped their price objective on Gilead Sciences from $136.00 to $143.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $117.17.

Get Our Latest Stock Analysis on Gilead Sciences

Gilead Sciences Stock Up 0.4%

• 2 Healthcare Stocks to Watch as JPMorgan Boosts Gilead Rating

Gilead Sciences stock opened at $114.09 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 1-year low of $81.83 and a 1-year high of $121.83. The firm has a 50 day simple moving average of $114.10 and a 200 day simple moving average of $110.03. The firm has a market capitalization of $141.56 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 0.77 and a beta of 0.36.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is 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.

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