Cornerstone Advisors LLC Increases Stake in Gilead Sciences, Inc. $GILD

Cornerstone Advisors LLC raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 45.8% in the second quarter, HoldingsChannel reports. The firm owned 99,700 shares of the biopharmaceutical company’s stock after buying an additional 31,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in Gilead Sciences were worth $11,054,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GILD. Activest Wealth Management grew its stake in shares of Gilead Sciences by 2,837.5% in the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares during the last quarter. 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 buying an additional 227 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of Gilead Sciences in the second quarter worth approximately $27,000. Putney Financial Group LLC lifted its position in shares of Gilead Sciences by 53.4% during the 2nd quarter. Putney Financial Group LLC now owns 270 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 94 shares in the last quarter. Finally, Colonial Trust Advisors increased its stake in Gilead Sciences by 304.3% in the 1st 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. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In related news, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $118.08, for a total value of $354,240.00. Following the completion of the transaction, the insider owned 110,193 shares in the company, valued at $13,011,589.44. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were 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 owned 157,055 shares in the company, valued at $18,545,054.40. The trade was a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 94,646 shares of company stock valued at $11,311,286 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Gilead Sciences in a research note on Wednesday, October 8th. Wall Street Zen upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. TD Cowen upped their target price on Gilead Sciences from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Dbs Bank raised Gilead Sciences to a “moderate buy” rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.13.

Gilead Sciences Stock Down 0.1%

Gilead Sciences stock opened at $125.02 on Friday. 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 has a market capitalization of $155.11 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.81 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $86.08 and a 12 month high of $127.68. The business has a 50 day simple moving average of $117.44 and a 200-day simple moving average of $112.83.

Gilead Sciences (NASDAQ:GILD) last announced 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 company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the firm posted $2.02 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.5%. Gilead Sciences’s dividend payout ratio is currently 48.99%.

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.