Gilead Sciences, Inc. $GILD Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Gilead stake by 33.6% in the third quarter, selling 153,043 shares and retaining 303,098 shares valued at about $44.7 million.
• Gilead beat quarterly estimates, reporting EPS of $2.55 versus $2.19 expected and revenue of $8.30 billion versus $7.81 billion; revenue rose 6.8% year over year.
• Analysts give Gilead a consensus “Moderate Buy” rating with an average $170.15 price target. The company also announced a quarterly dividend of $0.82 per share.

Allspring Global Investments Holdings LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 33.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 303,098 shares of the biopharmaceutical company's stock after selling 153,043 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Gilead Sciences were worth $44,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Griffith & Werner Inc. raised its position in shares of Gilead Sciences by 9.0% during the 3rd quarter. Griffith & Werner Inc. now owns 16,450 shares of the biopharmaceutical company's stock valued at $2,452,000 after buying an additional 1,359 shares in the last quarter. Hohimer Wealth Management LLC purchased a new position in Gilead Sciences in the third quarter worth about $205,000. Carret Asset Management LLC purchased a new position in Gilead Sciences in the third quarter worth about $210,000. Family Capital Management Inc. bought a new stake in Gilead Sciences during the third quarter worth approximately $206,000. Finally, Almanack Investment Partners LLC. bought a new stake in Gilead Sciences during the third quarter worth approximately $240,000. 83.67% of the stock is currently owned by institutional investors.

More Gilead Sciences News

Investors following GILD have been watching these news items:

• Positive Sentiment: Recent coverage also points to clinical progress in HIV and liver disease and raised full-year guidance, supporting confidence in Gilead’s outlook. Its latest reported quarter beat analyst estimates for earnings and revenue, with revenue up year over year. Gilead Sciences After Trial Wins And Raised Guidance Looks Fully Valued
• Neutral Sentiment: Valuation views are mixed after GILD’s substantial multi-year advance: one analysis sees the shares as undervalued based on cash-flow potential, while another considers them fully valued after the rally. This may make further gains more dependent on continued execution. Gilead Stock Still Looks Undervalued On Its 205% Run Gilead Looks Fully Valued
• Neutral Sentiment: Gilead partner Xilio expects to provide Gilead with an option data package for efarindodekin alfa in the first half of 2027. This is a potential pipeline catalyst, but remains several months away and is dependent on future data. Xilio Therapeutics Pipeline Update

Analyst Ratings Changes

GILD has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Gilead Sciences from $163.00 to $183.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Truist Financial lifted their target price on Gilead Sciences from $158.00 to $181.00 and gave the stock a "buy" rating in a report on Friday, October 30th. Wall Street Zen raised Gilead Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Royal Bank Of Canada increased their price target on Gilead Sciences from $126.00 to $131.00 and gave the company a "sector perform" rating in a report on Friday, October 30th. Finally, Leerink Partners downgraded Gilead Sciences from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $170.15.

Gilead Sciences Stock Down 0.7%

Gilead Sciences stock opened at $169.73 on Thursday. The business has a fifty day moving average of $154.40 and a two-hundred day moving average of $141.51. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 1.84. The firm has a market cap of $210.52 billion, a P/E ratio of -53.71 and a beta of 0.35. Gilead Sciences, Inc. has a twelve month low of $116.88 and a twelve month high of $176.58.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.36. The firm had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.81 billion. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post -0.98 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 annualized dividend and a dividend yield of 1.9%. Gilead Sciences's dividend payout ratio is -103.80%.

Insider Transactions 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 transaction of $725,100.00. Following the sale, the director directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. The trade was a 19.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 242,709 shares of company stock worth $39,503,427 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Gilead Sciences Profile

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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