Gilead Sciences, Inc. $GILD Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Gilead stake by 98% in the third quarter, selling 211,831 shares and retaining 4,361 shares valued at approximately $650,000. Institutional investors collectively own 83.67% of Gilead’s stock.
• Gilead shares traded near their 52-week high at $157.37, while the company reported quarterly revenue of $7.80 billion, exceeding analyst expectations. The company also maintains a quarterly dividend of $0.82 per share, equivalent to a 2.1% yield.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $159.33 price target, although several firms recently lowered their targets. Gilead is also expanding its oncology pipeline through a collaboration with Vir Biotechnology that could involve up to approximately $1.9 billion in payments.

Curated Wealth Partners LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 98.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,361 shares of the biopharmaceutical company's stock after selling 211,831 shares during the period. Curated Wealth Partners LLC's holdings in Gilead Sciences were worth $650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GILD. BlackRock Inc. bought a new position in Gilead Sciences in the 2nd quarter valued at approximately $15,393,785,000. State Street Corp lifted its holdings in Gilead Sciences by 2.3% in the second quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company's stock valued at $7,734,099,000 after buying an additional 1,357,967 shares during the period. Invesco Ltd. boosted its position in Gilead Sciences by 2.9% during the fourth quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company's stock valued at $1,912,822,000 after acquiring an additional 444,660 shares during the last quarter. Amundi increased its holdings in Gilead Sciences by 10.7% in the first quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company's stock worth $1,468,836,000 after purchasing an additional 1,018,976 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $1,316,606,000. Institutional investors own 83.67% 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 fifty-two week low of $114.02 and a fifty-two week high of $160.51. The business has a 50-day moving average of $146.73 and a 200 day moving average of $137.15. The firm has a market cap of $195.13 billion, a P/E ratio of -58.94 and a beta of 0.31. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

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

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, September 15th. Gilead Sciences's payout ratio is presently -122.85%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the completion of the transaction, the chief financial officer directly owned 164,096 shares in the company, valued at approximately $23,841,507.84. This represents a 1.80% decrease in their position. The transaction 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, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the transaction, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. This trade represents a 33.19% 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. Over the last quarter, insiders have sold 105,000 shares of company stock worth $14,940,540. 0.30% of the stock is owned by insiders.

Gilead Sciences News Roundup

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Leerink Partners lowered shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $146.00 to $127.00 in a report on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on Gilead Sciences from $123.00 to $126.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. Finally, Weiss Ratings upgraded shares of Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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