Simplify Asset Management Inc. Grows Position in Gilead Sciences, Inc. $GILD

Simplify Asset Management Inc. raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 148.6% during the 2nd quarter, Holdings Channel reports. The fund owned 52,890 shares of the biopharmaceutical company’s stock after purchasing an additional 31,618 shares during the period. Gilead Sciences makes up approximately 0.3% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 20th biggest position. Simplify Asset Management Inc.’s holdings in Gilead Sciences were worth $5,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Gilead Sciences by 1.7% during the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock valued at $13,162,606,000 after purchasing an additional 1,942,433 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gilead Sciences by 314.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock valued at $1,647,484,000 after acquiring an additional 11,156,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Gilead Sciences by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,755,481 shares of the biopharmaceutical company’s stock worth $1,541,302,000 after acquiring an additional 1,520,809 shares in the last quarter. Nuveen LLC bought a new stake in Gilead Sciences during the first quarter worth approximately $620,415,000. Finally, Nordea Investment Management AB raised its position in Gilead Sciences by 39.8% during the second quarter. Nordea Investment Management AB now owns 3,956,933 shares of the biopharmaceutical company’s stock valued at $436,648,000 after purchasing an additional 1,126,886 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 110,193 shares of the company’s stock, valued at $13,011,589.44. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the 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 transaction, the chief financial officer owned 157,055 shares in the company, valued at approximately $18,545,054.40. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,500 shares of company stock valued at $8,336,040 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Gilead Sciences Trading Down 0.6%

NASDAQ GILD opened at $118.15 on Tuesday. The stock has a market cap of $146.60 billion, a PE ratio of 23.54, a PEG 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 $124.61. The company’s 50-day moving average price is $116.59 and its 200-day moving average price is $112.34. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD) last issued its 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. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently 48.99%.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. Daiwa Capital Markets upgraded Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 target price for the company in a report on Tuesday, August 19th. Truist Financial restated a “buy” rating and issued a $145.00 price target (up from $127.00) on shares of Gilead Sciences in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Gilead Sciences in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Gilead Sciences from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $133.00 price target on shares of Gilead Sciences in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $128.27.

Gilead Sciences 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.