USA Financial Formulas Increases Position in Gilead Sciences, Inc. $GILD

USA Financial Formulas lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,176 shares of the biopharmaceutical company’s stock after purchasing an additional 5,858 shares during the period. Gilead Sciences comprises about 0.6% of USA Financial Formulas’ portfolio, making the stock its 19th largest holding. USA Financial Formulas’ holdings in Gilead Sciences were worth $3,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GILD. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 11,156,382 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $620,415,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Gilead Sciences in the second quarter valued at approximately $238,083,000. Los Angeles Capital Management LLC grew its position in shares of Gilead Sciences by 422.6% in the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company’s stock valued at $282,706,000 after purchasing an additional 2,040,261 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock valued at $13,162,606,000 after purchasing an additional 1,942,433 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial upgraded Gilead Sciences from a “hold” rating to a “buy” rating and upped their price target for the company from $108.00 to $127.00 in a research report on Friday, August 8th. Daiwa America upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Dbs Bank upgraded Gilead Sciences to a “moderate buy” rating in a report on Friday, September 5th. Rothschild & Co Redburn upped their price objective on Gilead Sciences from $136.00 to $143.00 and gave the company a “buy” rating in a report on Friday, September 12th. 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 equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.17.

Gilead Sciences Stock Up 0.1%

NASDAQ:GILD opened at $111.15 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average is $114.47 and its two-hundred day moving average is $109.92. Gilead Sciences, Inc. has a 52 week low of $83.10 and a 52 week high of $121.83. The stock has a market capitalization of $137.92 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 0.75 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping 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 analysts’ expectations of $6.95 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’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. Research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently 62.95%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $113.57, for a total value of $283,925.00. Following the sale, the chief financial officer directly owned 159,555 shares in the company, valued at approximately $18,120,661.35. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $111.66, for a total value of $1,116,600.00. Following the completion of the sale, the chief executive officer owned 591,203 shares in the company, valued at approximately $66,013,726.98. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,000 shares of company stock worth $9,402,130. Corporate 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.