Gilead Sciences, Inc. $GILD Shares Sold by Concord Wealth Partners

Concord Wealth Partners decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 50.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 575 shares of the biopharmaceutical company’s stock after selling 591 shares during the quarter. Concord Wealth Partners’ holdings in Gilead Sciences were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vest Financial LLC increased its position in Gilead Sciences by 39.3% during the second quarter. Vest Financial LLC now owns 14,472 shares of the biopharmaceutical company’s stock worth $1,605,000 after buying an additional 4,080 shares during the period. Welch Group LLC increased its position in Gilead Sciences by 29.1% during the second quarter. Welch Group LLC now owns 3,883 shares of the biopharmaceutical company’s stock worth $431,000 after buying an additional 876 shares during the period. Cypress Capital Group increased its position in Gilead Sciences by 1.1% during the second quarter. Cypress Capital Group now owns 48,533 shares of the biopharmaceutical company’s stock worth $5,381,000 after buying an additional 551 shares during the period. Stephens Consulting LLC increased its position in Gilead Sciences by 113.7% during the second quarter. Stephens Consulting LLC now owns 3,058 shares of the biopharmaceutical company’s stock worth $339,000 after buying an additional 1,627 shares during the period. Finally, MOKAN Wealth Management Inc. increased its position in Gilead Sciences by 18.9% during the second quarter. MOKAN Wealth Management Inc. now owns 19,352 shares of the biopharmaceutical company’s stock worth $2,146,000 after buying an additional 3,072 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.9%

Gilead Sciences stock opened at $118.21 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 1-year low of $84.34 and a 1-year high of $121.83. The company has a market cap of $146.68 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.34. The stock’s 50 day moving average price is $114.72 and its 200 day moving average price is $110.30.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating 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 the consensus estimate of $6.95 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm 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 was Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. Gilead Sciences’s payout ratio is 62.95%.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent research reports. Citigroup boosted their target price on Gilead Sciences from $125.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Daiwa America raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Royal Bank Of Canada boosted their target price on Gilead Sciences from $98.00 to $100.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Cantor Fitzgerald boosted their target price on Gilead Sciences from $129.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.08.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $113.57, for a total transaction of $283,925.00. Following the sale, the chief financial officer directly owned 159,555 shares in the company, valued at approximately $18,120,661.35. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $113.57, for a total value of $340,710.00. Following the sale, the insider owned 113,193 shares in the company, valued at approximately $12,855,329.01. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,000 shares of company stock worth $7,632,100. 0.27% of the stock is owned by corporate insiders.

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.