Panagora Asset Management Inc. Reduces Stake in Gilead Sciences, Inc. $GILD

Panagora Asset Management Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.1% in the 2nd quarter, Holdings Channel reports. The firm owned 1,587,069 shares of the biopharmaceutical company’s stock after selling 34,455 shares during the quarter. Gilead Sciences accounts for approximately 0.8% of Panagora Asset Management Inc.’s portfolio, making the stock its 21st largest position. Panagora Asset Management Inc.’s holdings in Gilead Sciences were worth $175,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. One Wealth Advisors LLC increased its holdings in shares of Gilead Sciences by 34.8% in the 2nd quarter. One Wealth Advisors LLC now owns 9,163 shares of the biopharmaceutical company’s stock worth $1,016,000 after buying an additional 2,364 shares during the last quarter. Sivik Global Healthcare LLC grew its position in Gilead Sciences by 25.0% in the second quarter. Sivik Global Healthcare LLC now owns 50,000 shares of the biopharmaceutical company’s stock worth $5,544,000 after acquiring an additional 10,000 shares in the last quarter. Ariel Investments LLC increased its stake in Gilead Sciences by 7.7% in the first quarter. Ariel Investments LLC now owns 430,424 shares of the biopharmaceutical company’s stock valued at $48,229,000 after acquiring an additional 30,630 shares during the last quarter. Simplify Asset Management Inc. increased its stake in Gilead Sciences by 148.6% in the second quarter. Simplify Asset Management Inc. now owns 52,890 shares of the biopharmaceutical company’s stock valued at $5,864,000 after acquiring an additional 31,618 shares during the last quarter. Finally, VeraBank N.A. purchased a new stake in Gilead Sciences during the second quarter valued at about $397,000. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Gilead Sciences in a report on Wednesday, October 8th. Scotiabank started coverage on Gilead Sciences in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $140.00 target price for the company. Morgan Stanley upped their target price on Gilead Sciences from $143.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Sanford C. Bernstein restated an “outperform” rating on shares of Gilead Sciences in a report on Monday, November 3rd. Finally, BMO Capital Markets set a $135.00 price objective on shares of Gilead Sciences in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $130.65.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $125.23, for a total value of $313,075.00. Following the sale, the chief financial officer directly owned 154,555 shares of the company’s stock, valued at $19,354,922.65. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $125.86, for a total value of $3,524,080.00. Following the transaction, the insider owned 107,193 shares in the company, valued at approximately $13,491,310.98. This represents a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,146 shares of company stock worth $14,012,141 in the last quarter. Insiders own 0.27% of the company’s stock.

Gilead Sciences Price Performance

GILD opened at $125.85 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. The stock’s 50 day simple moving average is $119.87 and its 200 day simple moving average is $114.70. The firm has a market cap of $156.13 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 0.81 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $88.57 and a 1 year high of $128.70.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.31. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.16 annualized dividend and a yield of 2.5%. Gilead Sciences’s dividend payout ratio is presently 48.99%.

Gilead Sciences 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.