Conning Inc. Cuts Stake in Gilead Sciences, Inc. $GILD

Conning Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.5% during the 3rd quarter, Holdings Channel reports. The fund owned 291,475 shares of the biopharmaceutical company’s stock after selling 27,106 shares during the quarter. Conning Inc.’s holdings in Gilead Sciences were worth $32,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Procyon Advisors LLC raised its holdings in Gilead Sciences by 14.1% during the third quarter. Procyon Advisors LLC now owns 30,204 shares of the biopharmaceutical company’s stock worth $3,353,000 after purchasing an additional 3,721 shares in the last quarter. Lazari Capital Management Inc. acquired a new position in Gilead Sciences during the 3rd quarter worth approximately $202,000. Ashton Thomas Securities LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter worth approximately $201,000. WealthPlan Investment Management LLC lifted its holdings in shares of Gilead Sciences by 4.2% in the 3rd quarter. WealthPlan Investment Management LLC now owns 3,238 shares of the biopharmaceutical company’s stock valued at $359,000 after buying an additional 132 shares during the period. Finally, GWN Securities Inc. boosted its stake in shares of Gilead Sciences by 14.3% in the third quarter. GWN Securities Inc. now owns 9,008 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 1,129 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $124.07 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.31 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $123.28 and its 200 day moving average price is $117.89. Gilead Sciences, Inc. has a 52 week low of $90.82 and a 52 week high of $128.70. The stock has a market cap of $153.93 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 0.64 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results 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. The company 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 27.88% and a return on equity of 51.86%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 earnings per share. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, December 15th. Gilead Sciences’s dividend payout ratio is 48.99%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GILD shares. Morgan Stanley cut their price objective on Gilead Sciences from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Gilead Sciences in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Truist Financial began coverage on shares of Gilead Sciences in a report on Monday, November 24th. They issued a “buy” rating and a $140.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.16.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 28th. The stock was 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $125.86, for a total transaction of $3,524,080.00. Following the completion of the transaction, the insider owned 107,193 shares in the company, valued at approximately $13,491,310.98. This trade represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 130,757 shares of company stock valued at $16,205,752 in the last ninety days. 0.27% of the stock is owned by insiders.

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.