MAI Capital Management Lowers Stock Holdings in Gilead Sciences, Inc. $GILD

MAI Capital Management decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,513 shares of the biopharmaceutical company’s stock after selling 789 shares during the period. MAI Capital Management’s holdings in Gilead Sciences were worth $2,859,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in Gilead Sciences during the first quarter valued at about $55,000. DRW Securities LLC purchased a new stake in Gilead Sciences during the first quarter valued at about $433,000. Centric Wealth Management increased its holdings in shares of Gilead Sciences by 34.0% in the first quarter. Centric Wealth Management now owns 21,287 shares of the biopharmaceutical company’s stock worth $2,385,000 after buying an additional 5,396 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Gilead Sciences by 98.9% in the first quarter. Panagora Asset Management Inc. now owns 1,621,524 shares of the biopharmaceutical company’s stock worth $181,692,000 after buying an additional 806,229 shares during the period. Finally, Activest Wealth Management increased its holdings in shares of Gilead Sciences by 2,837.5% in the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Down 0.2%

Shares of NASDAQ:GILD opened at $112.71 on Wednesday. Gilead Sciences, Inc. has a 1 year low of $77.74 and a 1 year high of $121.83. The company has a market cap of $139.85 billion, a PE ratio of 22.45, a P/E/G ratio of 0.70 and a beta of 0.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The stock’s 50-day moving average is $113.25 and its 200 day moving average is $109.74.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the business earned $2.01 EPS. Gilead Sciences’s revenue was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Gilead Sciences’s payout ratio is currently 62.95%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GILD shares. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. UBS Group lifted their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Daiwa Capital Markets upgraded Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price objective on the stock in a report on Tuesday, August 19th. Daiwa America upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Finally, Needham & Company LLC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.39.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $118.53, for a total transaction of $296,325.00. Following the sale, the chief financial officer directly owned 160,110 shares of the company’s stock, valued at approximately $18,977,838.30. The trade was a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $3,318,840.00. Following the sale, the insider directly owned 114,168 shares in the company, valued at approximately $13,532,333.04. The trade was a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock valued at $9,371,330. Insiders own 0.27% of the company’s stock.

About Gilead Sciences

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.