44,466 Gilead Sciences, Inc. $GILD Shares Sold by CoreCap Advisors LLC

Key Points

• CoreCap Advisors LLC cut its Gilead Sciences stake by 95.4% in the third quarter, selling 44,466 shares and retaining 2,158 shares valued at approximately $322,000. Institutional investors collectively own 83.67% of Gilead’s stock.
• Gilead reported quarterly revenue of $7.80 billion, up 10.6% year over year, and beat analysts’ EPS expectations despite reporting a loss. The company also maintained its quarterly dividend at $0.82 per share, representing a 2.2% yield.
• Analysts remain broadly positive, with 23 Buy ratings and six Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $159.33.

CoreCap Advisors LLC decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 95.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,158 shares of the biopharmaceutical company's stock after selling 44,466 shares during the quarter. CoreCap Advisors LLC's holdings in Gilead Sciences were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the fourth quarter valued at $25,000. Persistent Asset Partners Ltd purchased a new stake in Gilead Sciences in the 2nd quarter worth about $25,000. Kimelman & Baird LLC acquired a new stake in Gilead Sciences during the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC boosted its position in Gilead Sciences by 60.0% during the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 81 shares during the period. Finally, Wiser Advisor Group LLC acquired a new stake in Gilead Sciences during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $144.22, for a total transaction of $432,660.00. Following the transaction, the insider owned 116,684 shares in the company, valued at $16,828,166.48. This represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O'Day sold 15,000 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $147.90, for a total transaction of $2,218,500.00. Following the transaction, the chief executive officer owned 566,683 shares in the company, valued at $83,812,415.70. This represents a 2.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 105,000 shares of company stock valued at $14,940,540. 0.30% of the stock is owned by company insiders.

Gilead Sciences Stock Down 0.5%

Shares of Gilead Sciences stock opened at $150.43 on Tuesday. The firm has a market cap of $186.53 billion, a price-to-earnings ratio of -56.34 and a beta of 0.31. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a 52-week low of $114.02 and a 52-week high of $157.29. The stock has a 50-day simple moving average of $145.51 and a 200-day simple moving average of $136.80.

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

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Gilead Sciences's payout ratio is currently -122.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $155.00 target price on shares of Gilead Sciences in a research note on Thursday, October 8th. HSBC increased their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Royal Bank Of Canada raised their price target on shares of Gilead Sciences from $123.00 to $126.00 and gave the stock a "sector perform" rating in a report on Thursday, October 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Morgan Stanley lowered their price objective on shares of Gilead Sciences from $165.00 to $163.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.33.

About Gilead Sciences

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.

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