Pitcairn Co. Grows Stock Position in Gilead Sciences, Inc. $GILD

Pitcairn Co. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 99.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,287 shares of the biopharmaceutical company’s stock after buying an additional 11,104 shares during the quarter. Pitcairn Co.’s holdings in Gilead Sciences were worth $2,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sivik Global Healthcare LLC lifted its stake in Gilead Sciences by 25.0% in the 2nd quarter. Sivik Global Healthcare LLC now owns 50,000 shares of the biopharmaceutical company’s stock worth $5,544,000 after purchasing an additional 10,000 shares in the last quarter. One Wealth Advisors LLC increased its holdings in shares of Gilead Sciences by 34.8% in the second quarter. One Wealth Advisors LLC now owns 9,163 shares of the biopharmaceutical company’s stock valued at $1,016,000 after purchasing an additional 2,364 shares during the last quarter. Invesco Ltd. lifted its position in Gilead Sciences by 33.5% during the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after buying an additional 3,394,330 shares in the last quarter. Jump Financial LLC acquired a new position in Gilead Sciences during the second quarter worth $6,988,000. Finally, Simplify Asset Management Inc. grew its holdings in Gilead Sciences by 148.6% in the 2nd quarter. Simplify Asset Management Inc. now owns 52,890 shares of the biopharmaceutical company’s stock valued at $5,864,000 after buying an additional 31,618 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $126.54, for a total transaction of $1,265,400.00. Following the completion of the transaction, the chief executive officer directly owned 571,203 shares in the company, valued at $72,280,027.62. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah H. Telman sold 53,646 shares of Gilead Sciences stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $122.85, for a total value of $6,590,411.10. Following the completion of the transaction, the executive vice president directly owned 43,676 shares of the company’s stock, valued at approximately $5,365,596.60. This represents a 55.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 130,257 shares of company stock worth $15,991,492 in the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. TD Cowen raised their price objective on shares of Gilead Sciences from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wolfe Research lifted their target price on shares of Gilead Sciences from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Argus increased their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, UBS Group raised shares of Gilead Sciences to a “hold” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.13.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $120.40 on Monday. The company’s 50 day simple moving average is $121.89 and its 200-day simple moving average is $115.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. Gilead Sciences, Inc. has a 1 year low of $88.57 and a 1 year high of $128.70. The company has a market capitalization of $149.38 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.31. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s payout ratio is currently 48.99%.

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.