Treasurer of the State of North Carolina Raises Stake in Gilead Sciences, Inc. $GILD

by · The Cerbat Gem

Treasurer of the State of North Carolina raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 20.9% during the second quarter, Holdings Channel reports. The fund owned 771,282 shares of the biopharmaceutical company’s stock after buying an additional 133,240 shares during the period. Treasurer of the State of North Carolina’s holdings in Gilead Sciences were worth $85,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Gilead Sciences in the 2nd quarter valued at $2,150,268,000. Price T Rowe Associates Inc. MD lifted its stake in Gilead Sciences by 314.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock worth $1,647,484,000 after purchasing an additional 11,156,382 shares during the last quarter. Invesco Ltd. lifted its stake in Gilead Sciences by 33.5% in the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after purchasing an additional 3,394,330 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Gilead Sciences during the second quarter valued at about $238,083,000. Finally, Vanguard Group Inc. grew its stake in shares of Gilead Sciences by 1.6% during the second quarter. Vanguard Group Inc. now owns 119,364,226 shares of the biopharmaceutical company’s stock valued at $13,233,912,000 after buying an additional 1,893,401 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Trading Up 1.5%

NASDAQ GILD opened at $123.21 on Friday. The stock has a market cap of $152.86 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32. Gilead Sciences, Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $128.70. The stock has a 50 day simple moving average of $121.74 and a two-hundred day simple moving average of $115.62. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.31. The company had revenue of $7.77 billion during 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 firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently 48.99%.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $126.54, for a total transaction of $1,265,400.00. Following the sale, the chief executive officer directly owned 571,203 shares of the company’s stock, valued at approximately $72,280,027.62. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $125.08, for a total value of $625,400.00. Following the transaction, the director owned 8,920 shares in the company, valued at $1,115,713.60. This trade represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 135,757 shares of company stock worth $16,616,127. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GILD shares. Wall Street Zen raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Needham & Company LLC lifted their price target on Gilead Sciences from $133.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. BMO Capital Markets set a $135.00 price objective on Gilead Sciences in a research report on Tuesday, November 25th. Argus increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group raised their target price on shares of Gilead Sciences from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Two investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.96.

View Our Latest Report on Gilead Sciences

About Gilead Sciences

(Free Report)

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.

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