Bank of Nova Scotia Sells 319,843 Shares of Gilead Sciences, Inc. $GILD

Bank of Nova Scotia reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 55.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,374 shares of the biopharmaceutical company’s stock after selling 319,843 shares during the period. Bank of Nova Scotia’s holdings in Gilead Sciences were worth $28,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Csenge Advisory Group raised its holdings in shares of Gilead Sciences by 319.0% during the third quarter. Csenge Advisory Group now owns 21,394 shares of the biopharmaceutical company’s stock valued at $2,375,000 after purchasing an additional 16,288 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Gilead Sciences by 52.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 78,494 shares of the biopharmaceutical company’s stock worth $8,713,000 after purchasing an additional 26,882 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in Gilead Sciences by 249.1% in the third quarter. Cookson Peirce & Co. Inc. now owns 10,045 shares of the biopharmaceutical company’s stock worth $1,115,000 after purchasing an additional 7,168 shares during the last quarter. Railway Pension Investments Ltd grew its position in Gilead Sciences by 3.1% in the 3rd quarter. Railway Pension Investments Ltd now owns 1,415,665 shares of the biopharmaceutical company’s stock worth $157,139,000 after purchasing an additional 42,200 shares during the period. Finally, TriaGen Wealth Management LLC bought a new stake in Gilead Sciences in the 3rd quarter worth approximately $1,274,000. 83.67% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Daniel Patrick O’day sold 115,640 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $135.00, for a total transaction of $15,611,400.00. Following the sale, the chief executive officer directly owned 566,698 shares in the company, valued at $76,504,230. This trade represents a 16.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $4,324,320.00. Following the transaction, the insider owned 120,288 shares in the company, valued at approximately $18,577,278.72. This trade represents a 18.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 303,280 shares of company stock worth $43,203,470 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GILD. Daiwa Securities Group increased their price target on Gilead Sciences from $129.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Truist Financial lifted their price objective on Gilead Sciences from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Sanford C. Bernstein restated an “outperform” rating and set a $160.00 price target on shares of Gilead Sciences in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group initiated coverage on shares of Gilead Sciences in a research note on Tuesday, March 10th. They issued a “buy” rating and a $180.00 price objective on the stock. Twenty-four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.62.

Gilead Sciences Stock Performance

Shares of GILD opened at $145.21 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 0.98. The business has a 50-day simple moving average of $141.16 and a two-hundred day simple moving average of $127.19. The stock has a market cap of $180.27 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.90 and a beta of 0.36. Gilead Sciences, Inc. has a 52 week low of $93.37 and a 52 week high of $157.29.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Gilead Sciences had a return on equity of 49.46% and a net margin of 28.90%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Gilead Sciences has set its FY 2026 guidance at 8.450-8.850 EPS. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, March 13th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.79. Gilead Sciences’s dividend payout ratio (DPR) is 48.45%.

Gilead Sciences Company 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.