Envestnet Portfolio Solutions Inc. Trims Holdings in Gilead Sciences, Inc. $GILD

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 24.6% in the second quarter, HoldingsChannel reports. The fund owned 52,651 shares of the biopharmaceutical company’s stock after selling 17,147 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Gilead Sciences were worth $5,837,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GILD. Price T Rowe Associates Inc. MD raised its stake in shares of Gilead Sciences by 314.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock valued at $1,647,484,000 after purchasing an additional 11,156,382 shares during the period. Nuveen LLC acquired a new position in Gilead Sciences in the first quarter worth $620,415,000. Kingstone Capital Partners Texas LLC acquired a new position in Gilead Sciences in the second quarter worth $238,083,000. Los Angeles Capital Management LLC boosted its holdings in Gilead Sciences by 422.6% in the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company’s stock worth $282,706,000 after purchasing an additional 2,040,261 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock valued at $13,162,606,000 after buying an additional 1,942,433 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GILD. Daiwa Capital Markets upgraded Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 target price on the stock in a research note on Tuesday, August 19th. Rothschild & Co Redburn raised their target price on Gilead Sciences from $136.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Royal Bank Of Canada raised their target price on Gilead Sciences from $98.00 to $100.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Daiwa America upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on Gilead Sciences from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $118.08.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $111.66, for a total value of $1,116,600.00. Following the completion of the sale, the chief executive officer owned 591,203 shares of the company’s stock, valued at approximately $66,013,726.98. The trade was a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $113.57, for a total value of $340,710.00. Following the completion of the sale, the insider directly owned 113,193 shares of the company’s stock, valued at approximately $12,855,329.01. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock valued at $7,632,100. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Trading Up 0.2%

Shares of GILD opened at $118.48 on Wednesday. The business’s 50-day moving average price is $114.84 and its 200 day moving average price is $110.35. The stock has a market capitalization of $147.01 billion, a P/E ratio of 23.60, a P/E/G ratio of 0.80 and a beta of 0.34. Gilead Sciences, Inc. has a 1-year low of $84.80 and a 1-year high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly 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. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.95 billion. During the same quarter last year, the business posted $2.01 EPS. Gilead Sciences’s revenue was up 1.4% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.7%. Gilead Sciences’s payout ratio is presently 62.95%.

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.