RNC Capital Management LLC Sells 696 Shares of Gilead Sciences, Inc. $GILD

RNC Capital Management LLC cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455,889 shares of the biopharmaceutical company’s stock after selling 696 shares during the period. Gilead Sciences makes up approximately 2.5% of RNC Capital Management LLC’s holdings, making the stock its 15th biggest position. RNC Capital Management LLC’s holdings in Gilead Sciences were worth $50,544,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences in the 1st quarter valued at $25,000. Activest Wealth Management boosted its holdings in Gilead Sciences by 2,837.5% in the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 227 shares during the period. Harbor Asset Planning Inc. bought a new stake in Gilead Sciences in the 2nd quarter valued at $27,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences in the 1st quarter valued at $29,000. Finally, Colonial Trust Advisors raised its stake in shares of Gilead Sciences by 304.3% in the 1st quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 213 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Daiwa Capital Markets upgraded shares of Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price objective for the company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Dbs Bank upgraded shares of Gilead Sciences to a “moderate buy” rating in a research note on Friday, September 5th. Citigroup upped their target price on shares of Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $129.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $121.14.

Gilead Sciences Stock Down 2.1%

Shares of NASDAQ:GILD opened at $121.46 on Thursday. Gilead Sciences, Inc. has a 12 month low of $86.08 and a 12 month high of $124.61. The company’s 50-day moving average price is $115.38 and its two-hundred day moving average price is $110.78. 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 $150.71 billion, a P/E ratio of 24.20, a P/E/G ratio of 0.85 and a beta of 0.34.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the firm earned $2.01 EPS. The company’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. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is 62.95%.

Insider Activity

In other news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $3,318,840.00. Following the transaction, the insider owned 114,168 shares of the company’s stock, valued at approximately $13,532,333.04. This trade represents a 19.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $113.63, for a total transaction of $1,136,300.00. Following the completion of the sale, the chief executive officer owned 595,725 shares in the company, valued at $67,692,231.75. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,500 shares of company stock valued at $8,281,540. 0.27% of the stock is currently owned by insiders.

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.