Cim Investment Management Inc. Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

Cim Investment Management Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,887 shares of the biopharmaceutical company’s stock after selling 838 shares during the period. Cim Investment Management Inc.’s holdings in Gilead Sciences were worth $323,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $25,000. Activest Wealth Management grew its position 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 valued at $26,000 after purchasing an additional 227 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $29,000. Colonial Trust Advisors grew its position in shares of Gilead Sciences by 304.3% in the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 213 shares in the last quarter. Finally, Core Alternative Capital grew its position in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 241 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 2.3%

GILD opened at $117.86 on Friday. Gilead Sciences, Inc. has a one year low of $81.57 and a one year high of $121.83. The stock has a market capitalization of $146.24 billion, a PE ratio of 23.48, a P/E/G ratio of 0.78 and a beta of 0.36. The business’s 50 day moving average price is $113.97 and its 200 day moving average price is $110.07. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32.

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. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences’s dividend payout ratio is 62.95%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the transaction, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $9,371,330 over the last three months. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GILD shares. 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. UBS Group upped their price target on Gilead Sciences from $108.00 to $112.00 and gave the company a “neutral” rating in a research 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 target for the company in a research report on Tuesday, August 19th. Dbs Bank upgraded Gilead Sciences to a “moderate buy” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada upped their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.39.

Gilead Sciences Company 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.