Arrowstreet Capital Limited Partnership Grows Position in Gilead Sciences, Inc. $GILD

Arrowstreet Capital Limited Partnership raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 690.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 426,584 shares of the biopharmaceutical company’s stock after purchasing an additional 372,596 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Gilead Sciences were worth $47,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GILD. Brighton Jones LLC grew its position in Gilead Sciences by 20.6% during the fourth 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 4th quarter valued at about $215,000. Citizens Financial Group Inc. RI grew its holdings in shares of Gilead Sciences by 41.3% during the 1st quarter. Citizens Financial Group Inc. RI now owns 14,172 shares of the biopharmaceutical company’s stock worth $1,588,000 after purchasing an additional 4,145 shares during the period. AlphaCore Capital LLC increased its position in Gilead Sciences by 1.6% during the 1st quarter. AlphaCore Capital LLC now owns 9,685 shares of the biopharmaceutical company’s stock worth $1,085,000 after purchasing an additional 154 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Gilead Sciences by 7.1% in the first quarter. National Bank of Canada FI now owns 1,626,250 shares of the biopharmaceutical company’s stock valued at $182,217,000 after buying an additional 107,964 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction dated 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 owned 107,193 shares of the company’s stock, valued at approximately $13,491,310.98. The trade was a 20.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah H. Telman sold 53,646 shares of the stock in a transaction dated Wednesday, November 12th. The stock was 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 $5,365,596.60. The trade was a 55.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 135,757 shares of company stock worth $16,616,127 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Trading Down 1.1%

Shares of GILD opened at $121.22 on Friday. Gilead Sciences, Inc. has a one year low of $88.57 and a one year high of $128.70. The stock has a 50-day moving average price of $120.94 and a 200 day moving average price of $115.25. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The company has a market capitalization of $150.40 billion, a P/E ratio of 18.79, a P/E/G ratio of 0.68 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.31. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.Gilead Sciences’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s dividend payout ratio is 48.99%.

Analyst Upgrades and Downgrades

GILD has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $135.00 price objective on shares of Gilead Sciences in a research note on Friday, October 31st. Scotiabank initiated coverage on shares of Gilead Sciences in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $140.00 price target for the company. The Goldman Sachs Group increased their price target on Gilead Sciences from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Citigroup boosted their price objective on Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.65.

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.