Convergence Investment Partners LLC Acquires 2,119 Shares of Gilead Sciences, Inc. $GILD

Convergence Investment Partners LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,311 shares of the biopharmaceutical company’s stock after acquiring an additional 2,119 shares during the quarter. Gilead Sciences comprises approximately 1.6% of Convergence Investment Partners LLC’s holdings, making the stock its 9th biggest holding. Convergence Investment Partners LLC’s holdings in Gilead Sciences were worth $6,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Gilead Sciences during the 1st quarter valued at $25,000. GoalVest Advisory LLC lifted its holdings in shares of Gilead Sciences by 7,566.7% during the 2nd quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 227 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Gilead Sciences by 2,837.5% during the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 227 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Gilead Sciences during the 2nd quarter valued at $27,000. Finally, Goodman Advisory Group LLC acquired a new position in Gilead Sciences in the 1st quarter worth $29,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

GILD opened at $120.94 on Monday. The company has a 50-day moving average of $115.47 and a 200-day moving average of $111.11. The company has a market capitalization of $150.06 billion, a P/E ratio of 24.09, a PEG ratio of 0.83 and a beta of 0.34. Gilead Sciences, Inc. has a 1-year low of $86.08 and a 1-year high of $124.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.01 EPS. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given 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 2.6%. Gilead Sciences’s payout ratio is presently 62.95%.

Insider Transactions at Gilead Sciences

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $118.08, for a total transaction of $295,200.00. Following the completion of the sale, the chief financial officer directly owned 157,055 shares of the company’s stock, valued at $18,545,054.40. The trade was a 1.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,500 shares of company stock valued at $7,142,140. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Truist Financial upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Cantor Fitzgerald boosted their price objective 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. Daiwa Capital Markets upgraded shares of Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price objective on the stock in a report on Tuesday, August 19th. Finally, UBS Group boosted their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.61.

Gilead Sciences Company 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.