Vontobel Holding Ltd. has significantly increased its investment in Gilead Sciences, Inc. by acquiring an additional 394,567 shares during the third quarter of 2023. This move represents a remarkable 192.2% increase, bringing Vontobel’s total holdings to 599,860 shares valued at approximately $66.6 million at the quarter’s end.
Several other institutional investors have also adjusted their positions in Gilead. For instance, Rothschild Investment LLC raised its stake by 1.9% during the second quarter, now owning 4,539 shares valued at $503,000. Similarly, Ignite Planners LLC increased its holdings by 1.1% in the third quarter, resulting in ownership of 7,932 shares worth $880,000. Other firms, including Archer Investment Corp. and Binnacle Investments Inc., have made modest increases in their holdings, contributing to institutional investors collectively owning 83.67% of Gilead’s stock.
Recent Analyst Ratings and Stock Performance
The recent surge in Gilead’s stock has attracted attention from analysts. Wall Street Zen downgraded the company’s rating from “strong-buy” to “buy” in a report released on November 11, 2023. Meanwhile, Needham & Company LLC raised its price target from $133.00 to $140.00, affirming a “buy” rating. Wolfe Research has maintained an “outperform” rating with a price target of $150.00, while Citigroup lifted its price target from $125.00 to $135.00, also assigning a “buy” rating. Currently, Gilead Sciences holds an average rating of “Moderate Buy” based on input from multiple analysts, with a consensus price target of $131.54.
Gilead’s stock opened at $125.19 on November 29, 2023. The company boasts a market capitalization of $155.32 billion and has demonstrated a solid performance with a price-to-earnings ratio of 19.41. Over the past year, shares have traded between a low of $88.57 and a high of $128.70. Gilead’s quarterly earnings report on October 30 revealed earnings per share (EPS) of $2.47, surpassing analyst expectations of $2.16, with revenues reaching $7.77 billion.
Dividends and Insider Transactions
In addition to its strong financial performance, Gilead Sciences announced a quarterly dividend of $0.79, scheduled for payment on December 30, 2023. Shareholders of record on December 15 will receive this dividend, reflecting an annualized rate of $3.16 and a yield of 2.5%.
Recent insider trading activity includes notable sales by Director Kelly A. Kramer, who sold 2,805 shares at an average price of $127.10, totaling $356,515.50. Following this transaction, Kramer’s stake decreased by 67.69%. Another insider, Johanna Mercier, sold 3,000 shares at an average price of $122.00, amounting to $366,000.00. Over the last three months, insiders have sold a total of 136,257 shares worth approximately $16.7 million.
Founded in 1987 and based in Foster City, California, Gilead Sciences, Inc. focuses on developing treatments for areas with significant unmet medical needs, particularly in antiviral therapies. The company continues to expand its portfolio, contributing to its robust market presence and ongoing investor interest.
