Beacon Pointe Advisors LLC Reduces Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Beacon Pointe Advisors cut its Gilead Sciences position by 25.7% in the second quarter, selling 23,036 shares and retaining 66,695 shares valued at $8.43 million. Institutional investors collectively own 83.67% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $158.04. Gilead also beat quarterly revenue and EPS expectations and declared a quarterly dividend of $0.82 per share, yielding about 2.3%.
• Recent developments support Gilead’s growth prospects: the FDA approved its once-daily Bixlenvo HIV treatment, while the European Commission approved Trodelvy plus Keytruda for certain metastatic triple-negative breast cancer patients. Several insiders have also sold shares under pre-arranged Rule 10b5-1 plans.

Beacon Pointe Advisors LLC decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 25.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,695 shares of the biopharmaceutical company's stock after selling 23,036 shares during the period. Beacon Pointe Advisors LLC's holdings in Gilead Sciences were worth $8,428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Aviva PLC raised its position in Gilead Sciences by 5.4% in the 4th quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company's stock worth $141,978,000 after purchasing an additional 59,782 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $1,418,000. Bank of Nova Scotia acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at $100,056,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Gilead Sciences during the second quarter worth $55,754,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Gilead Sciences by 14.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company's stock valued at $13,075,000 after acquiring an additional 13,385 shares during the period. Institutional investors own 83.67% of the company's stock.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the sale, the director owned 10,066 shares of the company's stock, valued at $1,459,771.32. The trade was a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the sale, the chief financial officer directly owned 165,646 shares in the company, valued at $22,918,780.56. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock valued at $14,238,120 over the last three months. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Daiwa Securities Group lowered their price objective on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 19th. Barclays cut their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. HSBC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price target for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Truist Financial dropped their price target on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Finally, Leerink Partners cut shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $158.04.

Gilead Sciences Trading Down 2.1%

NASDAQ GILD opened at $145.68 on Friday. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market cap of $180.64 billion, a P/E ratio of -54.56 and a beta of 0.32. The stock's 50-day moving average is $134.25 and its 200-day moving average is $136.62.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (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 analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.Gilead Sciences's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.01 EPS. Sell-side analysts anticipate that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's dividend payout ratio is -122.85%.

More Gilead Sciences News

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

• Positive Sentiment: The FDA approved Bixlenvo, a once-daily single-tablet regimen combining bictegravir and lenacapavir for virologically suppressed adults with HIV. It is the first and only single-tablet option for patients on complex regimens who cannot use currently available alternatives, potentially expanding Gilead’s HIV franchise and supporting its longer-term lenacapavir strategy. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients, strengthening Gilead’s oncology portfolio and adding a potential growth opportunity outside its core HIV business. EU Trodelvy approval article
• Neutral Sentiment: Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of approximately $158. However, GILD’s strong multi-year advance may have raised expectations and limited the immediate upside from the Bixlenvo approval. Gilead valuation article
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth about $2.68 million, reducing his position by roughly 58%. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a limited bearish signal, but it may still weigh modestly on investor sentiment. SEC insider transaction filing

About Gilead Sciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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