Polaris Capital Management LLC Sells 12,500 Shares of Gilead Sciences, Inc. $GILD

Polaris Capital Management LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,400 shares of the biopharmaceutical company’s stock after selling 12,500 shares during the period. Gilead Sciences makes up 2.3% of Polaris Capital Management LLC’s portfolio, making the stock its 18th biggest position. Polaris Capital Management LLC’s holdings in Gilead Sciences were worth $34,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Gilead Sciences in the second quarter valued at approximately $2,150,268,000. Ameriprise Financial Inc. increased its position in shares of Gilead Sciences by 397.6% during the second quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock worth $748,147,000 after acquiring an additional 5,392,191 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Gilead Sciences by 33.5% during the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after acquiring an additional 3,394,330 shares during the period. Assenagon Asset Management S.A. lifted its position in Gilead Sciences by 164.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock valued at $387,286,000 after acquiring an additional 2,169,266 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Gilead Sciences in the 2nd quarter valued at $238,083,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 1.2%

Shares of GILD stock opened at $122.60 on Tuesday. Gilead Sciences, Inc. has a 52-week low of $89.02 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The stock has a market cap of $152.11 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.64 and a beta of 0.33. The firm’s 50-day moving average is $123.28 and its 200-day moving average is $117.77.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.31. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, December 15th. Gilead Sciences’s payout ratio is currently 48.99%.

Insider Buying and Selling

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $119.39, for a total transaction of $1,193,900.00. Following the completion of the sale, the chief executive officer owned 581,203 shares in the company, valued at approximately $69,389,826.17. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah H. Telman sold 53,646 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $122.85, for a total transaction of $6,590,411.10. Following the sale, the executive vice president owned 43,676 shares of the company’s stock, valued at $5,365,596.60. This trade represents a 55.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 136,257 shares of company stock valued at $16,855,192. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Daiwa Capital Markets increased their target price on Gilead Sciences from $128.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. Royal Bank Of Canada upped their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Truist Financial initiated coverage on Gilead Sciences in a report on Monday, November 24th. They set a “buy” rating and a $140.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Gilead Sciences in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price target on shares of Gilead Sciences from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.20.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.