Dearborn Partners LLC Makes New $9.74 Million Investment in Gilead Sciences, Inc. $GILD

Dearborn Partners LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 69,875 shares of the biopharmaceutical company’s stock, valued at approximately $9,738,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Gilead Sciences in the second quarter valued at approximately $15,393,785,000. State Street Corp boosted its position in shares of Gilead Sciences by 1.9% during the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock valued at $7,393,921,000 after buying an additional 1,151,213 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gilead Sciences by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after buying an additional 1,195,269 shares in the last quarter. Bank of America Corp DE grew its holdings in Gilead Sciences by 15.2% during the fourth quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock worth $2,837,948,000 after buying an additional 3,046,688 shares in the last quarter. Finally, Norges Bank purchased a new stake in Gilead Sciences in the 4th quarter valued at $2,617,152,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of Gilead Sciences stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total value of $2,675,160.00. Following the sale, the director owned 12,894 shares of the company’s stock, valued at approximately $1,916,306.28. The trade was a 58.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the transaction, the chief financial officer owned 165,646 shares in the company, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,000 shares of company stock valued at $14,238,120 in the last three months. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Stock Up 0.5%

GILD stock opened at $148.86 on Friday. The stock has a market cap of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $133.81 and its two-hundred day simple moving average is $136.55. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.01 EPS. Analysts expect that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is presently -122.85%.

Trending Headlines about Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved Bixlenvo, Gilead’s once-daily single-tablet HIV regimen combining bictegravir and lenacapavir. It is the first and only single-tablet option for virologically suppressed adults on complex treatment regimens who cannot use currently available alternatives. The approval could broaden Gilead’s HIV franchise and supports its strategy of using lenacapavir in long-term HIV treatment and prevention. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients. The label expansion strengthens Gilead’s oncology franchise and provides another potential source of revenue growth beyond its core HIV business. EU Trodelvy approval article
• Positive Sentiment: Recent investor commentary points to continued optimism around Gilead’s HIV prevention medicines, including the potential growth of its PrEP portfolio. Analysts and investors also view the stock as potentially undervalued relative to its fundamentals despite a strong five-year performance, which may support further interest. Gilead HIV catalyst article
• Neutral Sentiment: Gilead will present at the Wells Fargo, Cantor and Morgan Stanley healthcare conferences in September. These events could provide updates on Bixlenvo, HIV prevention, Trodelvy and the broader pipeline, but they do not create an immediate change to financial results. Gilead investor conferences announcement
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth approximately $2.68 million, reducing his holdings by about 58%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than a discretionary insider sale, but it may still modestly weigh on sentiment. SEC insider transaction filing

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GILD. Daiwa Securities Group dropped their price objective on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 19th. Rothschild & Co Redburn reduced their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Morgan Stanley lowered their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Twenty-four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $158.04.

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.