Advisors Capital Management LLC Cuts Holdings in Gilead Sciences, Inc. $GILD

Advisors Capital Management LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,440 shares of the biopharmaceutical company’s stock after selling 5,755 shares during the period. Advisors Capital Management LLC’s holdings in Gilead Sciences were worth $3,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock valued at $1,647,484,000 after purchasing an additional 11,156,382 shares during the last quarter. Nuveen LLC bought a new stake in shares of Gilead Sciences in the 1st quarter valued at about $620,415,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $238,083,000. Los Angeles Capital Management LLC grew its position in shares of Gilead Sciences by 422.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company’s stock worth $282,706,000 after buying an additional 2,040,261 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Gilead Sciences by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Down 0.1%

GILD stock opened at $125.02 on Friday. Gilead Sciences, Inc. has a one year low of $86.08 and a one year high of $127.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The firm’s fifty day moving average is $117.44 and its 200 day moving average is $112.77. The firm has a market cap of $155.11 billion, a PE ratio of 24.90, a P/E/G ratio of 0.81 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last announced 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. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup raised their target price on shares of Gilead Sciences from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Argus raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC boosted their target price on Gilead Sciences from $133.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley increased their price target on Gilead Sciences from $143.00 to $147.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Truist Financial reissued a “buy” rating and issued a $145.00 price target (up previously from $127.00) on shares of Gilead Sciences in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.13.

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $69,389,826.17. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $118.08, for a total transaction of $354,240.00. Following the sale, the insider owned 110,193 shares of the company’s stock, valued at $13,011,589.44. This represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 94,646 shares of company stock worth $11,311,286 in the last quarter. Insiders own 0.27% of the company’s stock.

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.