QRG Capital Management Inc. Trims Stake in Gilead Sciences, Inc. $GILD

QRG Capital Management Inc. cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.3% in the first quarter, HoldingsChannel reports. The firm owned 226,246 shares of the biopharmaceutical company’s stock after selling 15,139 shares during the period. QRG Capital Management Inc.’s holdings in Gilead Sciences were worth $31,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Gilead Sciences by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock valued at $14,863,487,000 after buying an additional 2,113,692 shares during the period. State Street Corp lifted its stake in Gilead Sciences by 1.9% in the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after acquiring an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Gilead Sciences by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after acquiring an additional 1,195,269 shares in the last quarter. Bank of America Corp DE increased its position in Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after purchasing an additional 3,046,688 shares during the period. Finally, Norges Bank purchased a new position in Gilead Sciences during the 4th quarter valued at about $2,617,152,000. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 15,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $131.46, for a total transaction of $1,971,900.00. Following the transaction, the chief executive officer directly owned 617,567 shares in the company, valued at $81,185,357.82. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $125.40, for a total value of $376,200.00. Following the transaction, the chief financial officer owned 171,646 shares in the company, valued at approximately $21,524,408.40. This trade represents a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 83,000 shares of company stock valued at $10,824,500. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of several research reports. Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research report on Wednesday, May 20th. Jefferies Financial Group started coverage on shares of Gilead Sciences in a research note on Tuesday, March 10th. They issued a “buy” rating and a $180.00 price objective for the company. Rothschild & Co Redburn lowered their target price on Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Wall Street Zen cut Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $157.00 price target (up from $155.00) on shares of Gilead Sciences in a report on Friday, May 8th. Twenty-five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.41.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $131.27 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $107.75 and a fifty-two week high of $157.29. The stock has a market capitalization of $162.98 billion, a P/E ratio of 17.88 and a beta of 0.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.77 and a current ratio of 1.97. The company’s 50-day simple moving average is $129.44 and its 200-day simple moving average is $134.53.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.91 by $0.12. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.91 billion. Gilead Sciences had a net margin of 30.99% and a return on equity of 48.19%. Gilead Sciences’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. Gilead Sciences has set its FY 2026 guidance at -1.050–0.650 EPS. On average, equities analysts anticipate that Gilead Sciences, Inc. will post -0.8 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. Gilead Sciences’s payout ratio is currently 44.69%.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.