Advisors Capital Management LLC Sells 2,968 Shares of Gilead Sciences, Inc. $GILD

Advisors Capital Management LLC decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,195 shares of the biopharmaceutical company’s stock after selling 2,968 shares during the quarter. Advisors Capital Management LLC’s holdings in Gilead Sciences were worth $4,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GILD. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences during the first quarter valued at approximately $25,000. Activest Wealth Management grew its stake in shares of Gilead Sciences by 2,837.5% during the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 227 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences during the first quarter valued at approximately $29,000. Colonial Trust Advisors grew its stake in shares of Gilead Sciences by 304.3% during the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 213 shares during the last quarter. Finally, Core Alternative Capital grew its stake in shares of Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 241 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on GILD shares. Needham & Company LLC raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday, July 25th. Royal Bank Of Canada increased their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Daiwa America raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Dbs Bank raised Gilead Sciences to a “moderate buy” rating in a research note on Friday, September 5th. Finally, UBS Group increased their price objective on Gilead Sciences from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note 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 assigned a Hold rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $115.39.

Gilead Sciences Stock Up 2.3%

Gilead Sciences stock opened at $117.86 on Friday. The business has a fifty day moving average of $113.97 and a two-hundred day moving average of $110.07. 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 firm has a market cap of $146.24 billion, a P/E ratio of 23.48, a P/E/G ratio of 0.78 and a beta of 0.36. Gilead Sciences, Inc. has a twelve month low of $81.57 and a twelve month high of $121.83.

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

Gilead Sciences Announces Dividend

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

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the transaction, the chief executive officer owned 605,725 shares in the company, valued at $69,016,306.50. This trade represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $118.53, for a total value of $296,325.00. Following the completion of the transaction, the chief financial officer owned 160,110 shares of the company’s stock, valued at $18,977,838.30. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,000 shares of company stock worth $9,371,330. Insiders own 0.27% of the company’s stock.

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.