Spire Wealth Management Cuts Stock Holdings in Gilead Sciences, Inc. $GILD

Spire Wealth Management decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 72.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,671 shares of the biopharmaceutical company’s stock after selling 12,541 shares during the quarter. Spire Wealth Management’s holdings in Gilead Sciences were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GILD. Activest Wealth Management boosted its stake in Gilead Sciences by 2,837.5% in the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares in the last quarter. GoalVest Advisory LLC boosted its stake in Gilead Sciences by 7,566.7% in the second quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in Gilead Sciences in the second quarter worth approximately $27,000. Colonial Trust Advisors boosted its stake in Gilead Sciences by 304.3% in the first quarter. Colonial Trust Advisors now owns 283 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 213 shares in the last quarter. Finally, Core Alternative Capital boosted its stake in Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $119.79 on Monday. The stock has a fifty day moving average of $115.66 and a 200 day moving average of $111.66. Gilead Sciences, Inc. has a 52 week low of $86.08 and a 52 week high of $124.61. The firm has a market capitalization of $148.64 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.81 and a beta of 0.34. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, topping 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 company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the firm posted $2.02 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. Gilead Sciences’s dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analyst Weigh In

GILD has been the subject of several research reports. 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. Daiwa America raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. TD Cowen increased their price objective on Gilead Sciences from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Dbs Bank raised Gilead Sciences to a “moderate buy” rating in a research note on Friday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $133.00 price objective on shares of Gilead Sciences in a research note on Friday. One 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.87.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $118.08, for a total value of $354,240.00. Following the completion of the sale, the insider owned 110,193 shares of the company’s stock, valued at $13,011,589.44. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $119.39, for a total value of $1,193,900.00. Following the completion of the transaction, the chief executive officer owned 581,203 shares of the company’s stock, valued at approximately $69,389,826.17. This trade represents a 1.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,500 shares of company stock valued at $8,336,040 over the last quarter. 0.27% of the stock is owned by company 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.