DAVENPORT & Co LLC Sells 6,026 Shares of Gilead Sciences, Inc. $GILD

DAVENPORT & Co LLC decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,561 shares of the biopharmaceutical company’s stock after selling 6,026 shares during the quarter. DAVENPORT & Co LLC’s holdings in Gilead Sciences were worth $4,169,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Gilead Sciences during the second quarter worth $2,150,268,000. Ameriprise Financial Inc. raised its stake in Gilead Sciences by 397.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock worth $748,147,000 after buying an additional 5,392,191 shares during the period. Invesco Ltd. lifted its holdings in Gilead Sciences by 33.5% during the second 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Gilead Sciences by 164.4% during the third quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock worth $387,286,000 after acquiring an additional 2,169,266 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Gilead Sciences in the second quarter valued at about $238,083,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $124.70 on Friday. The stock has a market capitalization of $154.71 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.70 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $88.57 and a 12 month high of $128.70. The firm has a fifty day simple moving average of $122.95 and a 200 day simple moving average of $116.61. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 1.03.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS 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 firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the firm posted $2.02 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently 48.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Gilead Sciences from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Gilead Sciences in a research note on Monday, November 3rd. Morgan Stanley increased their price objective on shares of Gilead Sciences from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Citigroup raised their price objective on shares of Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Needham & Company LLC boosted their price objective on shares of Gilead Sciences from $133.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Two 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.54.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $125.86, for a total transaction of $3,524,080.00. Following the transaction, the insider owned 107,193 shares of the company’s stock, valued at $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 through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $126.54, for a total value of $1,265,400.00. Following the completion of the sale, the chief executive officer directly owned 571,203 shares of the company’s stock, valued at approximately $72,280,027.62. The trade was a 1.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 136,257 shares of company stock valued at $16,723,492. 0.27% of the stock is owned by insiders.

Gilead Sciences Profile

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.