Cidel Asset Management Inc. Reduces Holdings in Gilead Sciences, Inc. $GILD

Cidel Asset Management Inc. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,260 shares of the biopharmaceutical company’s stock after selling 908 shares during the quarter. Cidel Asset Management Inc.’s holdings in Gilead Sciences were worth $916,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Gilead Sciences during the second quarter worth about $141,636,000. Quotient Wealth Partners LLC grew its holdings in shares of Gilead Sciences by 7.7% during the second quarter. Quotient Wealth Partners LLC now owns 8,047 shares of the biopharmaceutical company’s stock worth $892,000 after buying an additional 577 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Gilead Sciences by 0.5% during the second quarter. Chevy Chase Trust Holdings LLC now owns 662,803 shares of the biopharmaceutical company’s stock worth $73,485,000 after buying an additional 3,440 shares during the last quarter. Arista Wealth Management LLC purchased a new position in shares of Gilead Sciences during the second quarter worth about $1,257,000. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Gilead Sciences by 5.6% during the second quarter. Stratos Wealth Partners LTD. now owns 83,878 shares of the biopharmaceutical company’s stock worth $9,300,000 after buying an additional 4,461 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 4.2%

Shares of Gilead Sciences stock opened at $122.81 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 1 year low of $85.60 and a 1 year high of $124.11. The company has a market capitalization of $152.38 billion, a P/E ratio of 24.46, a P/E/G ratio of 0.84 and a beta of 0.34. The business has a 50 day moving average price of $115.22 and a 200 day moving average price of $110.51.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.95 billion. During the same period in the previous year, the company earned $2.01 EPS. Gilead Sciences’s revenue for the quarter was up 1.4% on a year-over-year basis. 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 fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $0.79 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. Gilead Sciences’s payout ratio is currently 62.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Daiwa America raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Rothschild & Co Redburn raised their price target on Gilead Sciences from $136.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Cantor Fitzgerald raised their price target on Gilead Sciences from $129.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Citigroup raised their price target on Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Truist Financial raised Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $108.00 to $127.00 in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.17.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction dated 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 owned 114,168 shares in the company, valued at approximately $13,532,333.04. This represents a 19.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the completion of the sale, the chief executive officer owned 595,725 shares in the company, valued at approximately $67,692,231.75. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,500 shares of company stock worth $8,281,540 in the last quarter. 0.27% of the stock is owned by corporate insiders.

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.