Bank of Nova Scotia Has $64.33 Million Position in Gilead Sciences, Inc. $GILD

Bank of Nova Scotia cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 43.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 580,217 shares of the biopharmaceutical company’s stock after selling 445,433 shares during the period. Bank of Nova Scotia’s holdings in Gilead Sciences were worth $64,329,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP grew its holdings in Gilead Sciences by 14.7% in the 2nd quarter. Baker Avenue Asset Management LP now owns 2,855 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 365 shares during the last quarter. BlackDiamond Wealth Management LLC acquired a new stake in shares of Gilead Sciences in the second quarter worth $205,000. Jump Financial LLC bought a new position in Gilead Sciences during the second quarter worth $6,988,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Gilead Sciences by 13.9% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 3,552 shares of the biopharmaceutical company’s stock valued at $394,000 after purchasing an additional 433 shares during the period. Finally, Stenger Family Office LLC bought a new stake in Gilead Sciences in the 2nd quarter valued at $391,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GILD shares. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Daiwa America raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Wolfe Research boosted their price target on shares of Gilead Sciences from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Gilead Sciences in a report on Monday, November 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company a “sector perform” rating in a research 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 three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.65.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $121.19 on Tuesday. The company has a market capitalization of $150.36 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 0.67 and a beta of 0.32. The company has a quick ratio of 1.31, a current ratio of 1.45 and a debt-to-equity ratio of 1.03. Gilead Sciences, Inc. has a twelve month low of $88.57 and a twelve month high of $128.70. The stock has a fifty day simple moving average of $121.11 and a 200 day simple moving average of $115.44.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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. 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 previous year, the company posted $2.02 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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

Insider Transactions at Gilead Sciences

In related news, EVP Deborah H. Telman sold 53,646 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $122.85, for a total value of $6,590,411.10. Following the transaction, the executive vice president owned 43,676 shares in the company, valued at $5,365,596.60. The trade was a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $125.08, for a total transaction of $625,400.00. Following the sale, the director directly owned 8,920 shares in the company, valued at $1,115,713.60. This trade represents a 35.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 135,757 shares of company stock worth $16,616,127. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Company 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.