Gateway Investment Advisers LLC Raises Stock Position in Gilead Sciences, Inc. $GILD

Gateway Investment Advisers LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 57.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,323 shares of the biopharmaceutical company’s stock after acquiring an additional 43,672 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Gilead Sciences were worth $13,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Gilead Sciences during the second quarter worth about $2,150,268,000. Ameriprise Financial Inc. grew its stake in shares of Gilead Sciences by 397.6% in the second quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock valued at $748,147,000 after buying an additional 5,392,191 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Gilead Sciences by 33.5% during the 2nd quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock valued at $1,499,098,000 after buying an additional 3,394,330 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Gilead Sciences by 164.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock valued at $387,286,000 after buying an additional 2,169,266 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Gilead Sciences during the 2nd quarter worth approximately $238,083,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 0.9%

NASDAQ GILD opened at $121.60 on Friday. The company has a market capitalization of $150.87 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.65 and a beta of 0.33. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.45 and a quick ratio of 1.31. Gilead Sciences, Inc. has a 12 month low of $88.57 and a 12 month high of $128.70. The company’s fifty day moving average price is $123.05 and its two-hundred day moving average price is $117.11.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.31. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the firm earned $2.02 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, research analysts predict 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 was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, December 15th. This represents a $3.16 annualized dividend and a yield of 2.6%. Gilead Sciences’s dividend payout ratio is presently 48.99%.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $125.86, for a total value of $3,524,080.00. Following the completion of the transaction, the insider owned 107,193 shares in the company, valued at approximately $13,491,310.98. This trade represents a 20.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $119.39, for a total value of $1,193,900.00. Following the completion of the sale, the chief executive officer owned 581,203 shares of the company’s stock, valued at $69,389,826.17. This trade represents a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 136,257 shares of company stock worth $16,855,192 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GILD shares. UBS Group raised shares of Gilead Sciences to a “hold” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Truist Financial assumed coverage on shares of Gilead Sciences in a report on Monday, November 24th. They set a “buy” rating and a $140.00 price target for the company. Rothschild & Co Redburn lifted their price target on shares of Gilead Sciences from $143.00 to $153.00 in a research note on Monday, November 10th. Finally, Morgan Stanley upped their price objective on shares of Gilead Sciences from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.68.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.