Forum Financial Management LP Decreases Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• Forum Financial Management LP cut its stake in Gilead Sciences by 58.2% in the first quarter, leaving it with 7,021 shares valued at about $979,000.
• Gilead reported better-than-expected first-quarter results, posting $2.03 EPS on revenue of $6.96 billion, while revenue rose 4.4% year over year.
• The company also declared a quarterly dividend of $0.82 per share, equal to an annualized yield of 2.6%, even as shares traded around $126.33 and were down 1.2% on the day.

Forum Financial Management LP reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 58.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,021 shares of the biopharmaceutical company's stock after selling 9,759 shares during the period. Forum Financial Management LP's holdings in Gilead Sciences were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Drucker Wealth 3.0 LLC increased its holdings in shares of Gilead Sciences by 16.2% in the 1st quarter. Drucker Wealth 3.0 LLC now owns 2,085 shares of the biopharmaceutical company's stock worth $291,000 after buying an additional 290 shares during the last quarter. EWA LLC lifted its holdings in shares of Gilead Sciences by 11.3% in the 1st quarter. EWA LLC now owns 3,140 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 320 shares during the last quarter. Catalina Capital Group LLC purchased a new position in Gilead Sciences in the first quarter worth about $204,000. Continuum Advisory LLC grew its position in Gilead Sciences by 5.2% in the first quarter. Continuum Advisory LLC now owns 6,008 shares of the biopharmaceutical company's stock worth $837,000 after acquiring an additional 297 shares in the last quarter. Finally, Tred Avon Family Wealth LLC increased its stake in Gilead Sciences by 2.7% during the first quarter. Tred Avon Family Wealth LLC now owns 3,899 shares of the biopharmaceutical company's stock worth $543,000 after acquiring an additional 102 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GILD shares. Royal Bank Of Canada restated a "sector perform" rating on shares of Gilead Sciences in a research report on Monday, June 8th. Rothschild & Co Redburn cut their target price on Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Maxim Group upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a report on Wednesday, May 20th. Citigroup raised their price target on Gilead Sciences from $156.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Finally, Morgan Stanley dropped their price objective on shares of Gilead Sciences from $175.00 to $168.00 in a research note on Friday, May 8th. Twenty-five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.41.

Gilead Sciences Stock Down 1.2%

Shares of NASDAQ GILD opened at $126.33 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $107.75 and a 1 year high of $157.29. The firm has a 50-day simple moving average of $129.94 and a two-hundred day simple moving average of $134.42. The company has a market cap of $156.85 billion, a P/E ratio of 17.21 and a beta of 0.31. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.97 and a quick ratio of 1.77.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.12. Gilead Sciences had a return on equity of 48.19% and a net margin of 30.99%.The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.91 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. Research analysts anticipate that Gilead Sciences, Inc. will post -0.8 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. Gilead Sciences's dividend payout ratio is 44.69%.

Insiders Place Their Bets

In other news, CEO Daniel Patrick O'day sold 15,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $131.46, for a total transaction of $1,971,900.00. Following the completion of the sale, the chief executive officer directly owned 617,567 shares of the company's stock, valued at approximately $81,185,357.82. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the completion of the transaction, the insider owned 124,234 shares in the company, valued at approximately $15,395,077.28. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,000 shares of company stock worth $8,930,150 over the last quarter. Company insiders own 0.30% of the company's stock.

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.

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