Wedge Capital Management L L P NC Sells 59,085 Shares of Gilead Sciences, Inc. $GILD

Wedge Capital Management L L P NC lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 20.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,844 shares of the biopharmaceutical company’s stock after selling 59,085 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Gilead Sciences were worth $25,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GILD. Activest Wealth Management raised its stake in Gilead Sciences by 2,837.5% during the 1st quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 227 shares during the period. GoalVest Advisory LLC increased its stake in shares of 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 purchasing an additional 227 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $27,000. Putney Financial Group LLC lifted its stake 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, Howard Hughes Medical Institute purchased a new position in shares of Gilead Sciences during the 2nd quarter valued at $30,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price target on Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Argus increased their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Truist Financial initiated coverage on Gilead Sciences in a report on Monday, November 24th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, TD Cowen increased their price objective on shares of Gilead Sciences from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.54.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $122.00, for a total transaction of $366,000.00. Following the sale, the insider directly owned 106,221 shares in the company, valued at approximately $12,958,962. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly A. Kramer sold 2,805 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $127.10, for a total transaction of $356,515.50. Following the completion of the transaction, the director directly owned 1,339 shares of the company’s stock, valued at approximately $170,186.90. The trade was a 67.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 136,257 shares of company stock valued at $16,723,492 over the last quarter. 0.27% of the stock is currently owned by insiders.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $124.29 on Friday. The stock has a 50 day moving average of $122.35 and a 200 day moving average of $116.16. Gilead Sciences, Inc. has a 12 month low of $88.57 and a 12 month high of $128.70. The firm has a market cap of $154.20 billion, a PE ratio of 19.27, a PEG ratio of 0.69 and a beta of 0.32. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 1.03.

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, 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 return on equity of 51.86% and a net margin of 27.88%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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 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 yield of 2.5%. Gilead Sciences’s dividend payout ratio is presently 48.99%.

Gilead Sciences Company Profile

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.