Elite Wealth Management Inc. Acquires 26,129 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Elite Wealth Management increased its Gilead stake by 171.5% in the third quarter, buying 26,129 shares to hold 41,361 shares valued at about $6.17 million.
• Gilead’s latest quarterly results beat analyst expectations: EPS was $2.55 versus a $2.19 estimate, revenue reached $8.30 billion, and revenue grew 6.8% year over year. The company raised full-year product-sales guidance and maintained its $0.82 quarterly dividend.
• Pipeline updates included promising HIV-prevention data for twice-yearly lenacapavir and Phase 3 results showing Livdelzi normalized ALP in about 75% of participants. Analysts surveyed by MarketBeat rated Gilead a “Moderate Buy,” with a $170.15 consensus price target.

Elite Wealth Management Inc. lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 171.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,361 shares of the biopharmaceutical company's stock after purchasing an additional 26,129 shares during the period. Gilead Sciences comprises 1.2% of Elite Wealth Management Inc.'s holdings, making the stock its 24th biggest holding. Elite Wealth Management Inc.'s holdings in Gilead Sciences were worth $6,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Client 1ST Advisory Group LLC lifted its stake in Gilead Sciences by 4.0% during the third quarter. Client 1ST Advisory Group LLC now owns 1,786 shares of the biopharmaceutical company's stock valued at $266,000 after purchasing an additional 69 shares during the last quarter. Bfsg LLC boosted its holdings in Gilead Sciences by 7.7% during the third quarter. Bfsg LLC now owns 1,003 shares of the biopharmaceutical company's stock worth $149,000 after buying an additional 72 shares in the last quarter. Grove Bank & Trust grew its position in Gilead Sciences by 1.2% in the third quarter. Grove Bank & Trust now owns 6,345 shares of the biopharmaceutical company's stock worth $946,000 after buying an additional 74 shares during the last quarter. Wilkerson Advisory Group LLC grew its position in Gilead Sciences by 54.2% in the first quarter. Wilkerson Advisory Group LLC now owns 222 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 78 shares during the last quarter. Finally, HBW Advisory Services LLC grew its position in Gilead Sciences by 2.4% in the first quarter. HBW Advisory Services LLC now owns 3,391 shares of the biopharmaceutical company's stock worth $473,000 after buying an additional 79 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Key Headlines Impacting Gilead Sciences

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

• Positive Sentiment: New HIV-prevention data showed twice-yearly lenacapavir achieved nearly twice the one-year treatment persistence of daily oral F/TDF, a result that could support Gilead’s long-acting HIV-prevention strategy. Article: New Data Show Twice-Yearly Lenacapavir Achieved Nearly Twice the One-Year Persistence
• Positive Sentiment: In the Phase 3 IDEAL study, Livdelzi (seladelpar) achieved ALP normalization in about 75% of participants with primary biliary cholangitis. The results may strengthen its case for broader second-line use, although the stock reportedly fell following the update. Article: Gilead's Livdelzi Achieves 75% ALP Normalization
• Positive Sentiment: Recent third-quarter results beat analyst estimates for earnings and revenue, and Gilead raised full-year product-sales guidance. The company also maintained its quarterly dividend at $0.82 per share. Article: Did Earnings Beat Just Shift Gilead Sciences' Investment Narrative?
• Neutral Sentiment: CEO Daniel O’Day sold more than 112,000 shares across November 4–5, but the transactions were conducted under a pre-arranged Rule 10b5-1 plan. He retained 551,683 shares, which may temper concerns about the sales. SEC Form 4 filing

Gilead Sciences Price Performance

Shares of GILD opened at $166.89 on Monday. The business's 50-day moving average is $153.04 and its 200-day moving average is $140.94. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.38 and a quick ratio of 1.22. The company has a market capitalization of $207.00 billion, a price-to-earnings ratio of -52.81 and a beta of 0.35. Gilead Sciences, Inc. has a fifty-two week low of $116.88 and a fifty-two week high of $176.58.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The business had revenue of $8.30 billion during the quarter, compared to analysts' expectations of $7.81 billion. During the same period last year, the company posted $2.47 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Gilead Sciences, Inc. will post -1.07 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be given a $0.82 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.0%. Gilead Sciences's dividend payout ratio is presently -103.80%.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel O'Day sold 9,810 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $175.17, for a total transaction of $1,718,417.70. Following the transaction, the chief executive officer directly owned 551,683 shares in the company, valued at $96,638,311.11. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $156.22, for a total transaction of $468,660.00. Following the completion of the transaction, the chief financial officer directly owned 161,096 shares in the company, valued at $25,166,417.12. This trade represents a 1.83% 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 sold 239,310 shares of company stock valued at $38,945,617 in the last quarter. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GILD shares. UBS Group increased their price objective on Gilead Sciences from $175.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Weiss Ratings upgraded Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 14th. Royal Bank Of Canada lifted their target price on Gilead Sciences from $126.00 to $131.00 and gave the stock a "sector perform" rating in a report on Friday, October 30th. Jefferies Financial Group set a $196.00 target price on Gilead Sciences in a research report on Wednesday. Finally, Needham & Company LLC set a $175.00 target price on Gilead Sciences in a report on Friday, October 30th. Twenty-three research 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, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $170.15.

About Gilead Sciences

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C.

Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.

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