CacheTech Inc. Invests $653,000 in Gilead Sciences, Inc. $GILD

CacheTech Inc. bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,893 shares of the biopharmaceutical company’s stock, valued at approximately $653,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Gilead Sciences in the second quarter valued at about $2,150,268,000. Price T Rowe Associates Inc. MD raised its holdings in Gilead Sciences by 314.6% in the 1st 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 acquiring an additional 11,156,382 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Gilead Sciences by 397.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock valued at $748,147,000 after acquiring an additional 5,392,191 shares in the last quarter. Invesco Ltd. lifted its position in shares of Gilead Sciences by 33.5% in the 2nd quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after acquiring an additional 3,394,330 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $238,083,000. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GILD has been the subject of a number of recent research reports. Wall Street Zen upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Mizuho increased their price objective on shares of Gilead Sciences from $131.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Wells Fargo & Company raised their price objective on shares of Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Truist Financial initiated coverage on shares of Gilead Sciences in a research note on Monday, November 24th. They issued a “buy” rating and a $140.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Gilead Sciences from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $131.13.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $120.40 on Monday. The stock has a 50-day simple moving average of $121.89 and a 200 day simple moving average of $115.81. The stock has a market capitalization of $149.38 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 0.67 and a beta of 0.32. The company has a quick ratio of 1.31, a current ratio of 1.45 and a debt-to-equity ratio of 1.03. Gilead Sciences, Inc. has a 12-month low of $88.57 and a 12-month high of $128.70.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior 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. On average, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Insider Activity

In related news, Director Jeffrey Bluestone sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $125.08, for a total value of $625,400.00. Following the transaction, the director owned 8,920 shares in the company, valued at $1,115,713.60. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $126.54, for a total value of $1,265,400.00. Following the sale, the chief executive officer directly owned 571,203 shares of the company’s stock, valued at $72,280,027.62. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 130,257 shares of company stock worth $15,991,492. 0.27% of the stock is owned by company insiders.

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.