Gilead Sciences, Inc. $GILD Stock Sold by Iams Wealth Management LLC

Iams Wealth Management LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,814 shares of the biopharmaceutical company’s stock after selling 3,372 shares during the period. Gilead Sciences makes up approximately 0.9% of Iams Wealth Management LLC’s portfolio, making the stock its 28th largest position. Iams Wealth Management LLC’s holdings in Gilead Sciences were worth $3,252,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Gilead Sciences in the 2nd quarter valued at approximately $15,393,785,000. State Street Corp raised its stake in shares of Gilead Sciences by 2.3% during the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock worth $7,734,099,000 after buying an additional 1,357,967 shares in the last quarter. Invesco Ltd. raised its stake in shares of Gilead Sciences by 2.9% during the 4th quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company’s stock worth $1,912,822,000 after buying an additional 444,660 shares in the last quarter. Amundi raised its stake in shares of Gilead Sciences by 10.7% during the 1st quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company’s stock worth $1,468,836,000 after buying an additional 1,018,976 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at approximately $1,316,606,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In related news, CEO Daniel O’Day sold 15,000 shares of Gilead Sciences stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $148.64, for a total transaction of $2,229,600.00. Following the completion of the transaction, the chief executive officer directly owned 577,133 shares of the company’s stock, valued at approximately $85,785,049.12. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Dickinson sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the sale, the chief financial officer owned 164,096 shares in the company, valued at approximately $23,841,507.84. The trade was a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,000 shares of company stock valued at $14,940,540 in the last 90 days. Insiders own 0.30% of the company’s stock.

Gilead Sciences Trading Up 2.5%

Shares of GILD opened at $157.37 on Friday. Gilead Sciences, Inc. has a twelve month low of $114.02 and a twelve month high of $160.51. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $195.13 billion, a P/E ratio of -58.94 and a beta of 0.31. The firm’s 50-day moving average is $146.73 and its two-hundred day moving average is $137.15.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.01 EPS. On average, research analysts predict that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently -122.85%.

Gilead Sciences News Summary

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Expansion of solid-tumor oncology pipeline: Gilead agreed to collaborate with Vir Biotechnology on three novel, dual-masked PRO-XTEN® T-cell engagers targeting solid tumors. Gilead receives exclusive development and commercialization rights, giving it access to Vir’s immunology and antibody-engineering platform. The agreement could provide Vir with up to approximately $1.9 billion, including as much as $1.74 billion in milestone payments, if development and commercial targets are achieved. Gilead and Vir forge $1.9bn pact to develop next-gen T-cell engagers
• Positive Sentiment: Investor reaction and defensive-sector support: The Vir deal reinforces Gilead’s continuing investment in T-cell engagers and oncology, following its acquisition of Ouro Medicines. Separately, shares of major pharmaceutical companies, including Gilead, were near record levels as a technology-sector selloff encouraged investors to favor perceived defensive businesses. Can Gilead’s Deal With VIR Boost Its Oncology Pipeline and Growth?
• Neutral Sentiment: Momentum and attention are elevated: Gilead cleared a prior February high and attracted increased attention from Zacks users. These signals may support near-term momentum, but they do not change the company’s underlying earnings outlook. Gilead Sciences Clears Its February High
• Negative Sentiment: Development risk remains: The oncology programs are early-stage assets, so milestone-based economics depend on successful clinical development, regulatory approval and eventual commercialization. Analysts also have mixed views on Gilead, limiting the strength of the bullish signal. Analysts Have Conflicting Sentiments on Gilead Sciences

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Bank of America reaffirmed a “buy” rating and set a $164.00 price objective on shares of Gilead Sciences in a report on Monday. Truist Financial increased their price objective on Gilead Sciences from $150.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Weiss Ratings raised Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Finally, Leerink Partners lowered shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.33.

Gilead Sciences Company Profile

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.