Patton Fund Management Inc. Sells 38,011 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Patton Fund Management cut its Gilead Sciences stake by 63.8% in the first quarter, selling 38,011 shares and leaving it with 21,594 shares valued at about $3.01 million.
• Recent positive pipeline news has supported sentiment, including Trodelvy winning first-line approval in the U.S. and Europe for metastatic triple-negative breast cancer and encouraging HIV trial results that led Cantor Fitzgerald to reiterate an Overweight rating.
• Gilead posted better-than-expected quarterly results, with EPS of $2.03 and revenue of $6.96 billion, and it also declared a quarterly dividend of $0.82 per share, implying a 2.6% annualized yield.

Patton Fund Management Inc. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 63.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,594 shares of the biopharmaceutical company's stock after selling 38,011 shares during the quarter. Patton Fund Management Inc.'s holdings in Gilead Sciences were worth $3,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC acquired a new position in Gilead Sciences during the 1st quarter valued at about $202,000. Cornerstone Wealth Group LLC grew its position in shares of Gilead Sciences by 7.7% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,314 shares of the biopharmaceutical company's stock worth $442,000 after buying an additional 238 shares during the period. Citrine Capital LLC bought a new stake in shares of Gilead Sciences during the first quarter worth approximately $211,000. MFA Wealth Services bought a new stake in shares of Gilead Sciences during the first quarter worth approximately $1,070,000. Finally, Trilogy Capital Inc. lifted its holdings in Gilead Sciences by 5.2% in the first quarter. Trilogy Capital Inc. now owns 31,249 shares of the biopharmaceutical company's stock valued at $4,355,000 after buying an additional 1,546 shares during the period. 83.67% of the stock is owned by institutional investors.

More Gilead Sciences News

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

• Positive Sentiment: Trodelvy won first-line approval in the U.S. and Europe for metastatic triple-negative breast cancer, opening a larger treatment market and improving Gilead’s oncology growth profile. Gilead Sciences (GILD) Wins First Line Trodelvy Approval In The US And Europe
• Positive Sentiment: Cantor Fitzgerald reiterated an Overweight rating and $155 price target after positive HIV trial results, signaling continued analyst confidence in Gilead’s pipeline and longer-term earnings potential. Cantor Fitzgerald Reiterates Overweight Rating on Gilead Sciences (GILD) Following Positive HIV Trial Results
• Positive Sentiment: Merck’s FDA announcement that KEYTRUDA combinations can be used with Trodelvy in first-line advanced TNBC adds another validation point for Trodelvy’s role in frontline cancer care. FDA Approves KEYTRUDA and KEYTRUDA QLEX each with Trodelvy as First-Line Treatment of Advanced Triple-Negative Breast Cancer
• Neutral Sentiment: Recent coverage also noted Gilead’s stock had been drifting lower before the approval news, reflecting recent market weakness rather than a change in fundamentals. Gilead Sciences (GILD) Dips More Than Broader Market: What You Should Know

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 15,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $131.46, for a total value of $1,971,900.00. Following the completion of the transaction, the chief executive officer owned 617,567 shares in the company, valued at $81,185,357.82. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $131.29, for a total transaction of $3,676,120.00. Following the sale, the insider directly owned 125,779 shares of the company's stock, valued at $16,513,524.91. This represents a 18.21% decrease in their position. 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. Over the last quarter, insiders have sold 68,000 shares of company stock valued at $8,930,150. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, April 17th. Truist Financial restated a "buy" rating and set a $157.00 target price (up from $155.00) on shares of Gilead Sciences in a report on Friday, May 8th. Rothschild & Co Redburn decreased their target price on Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Weiss Ratings cut Gilead Sciences from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Finally, Maxim Group upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a research report on Wednesday, May 20th. Twenty-five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.41.

Gilead Sciences Stock Down 0.0%

Shares of Gilead Sciences stock opened at $127.86 on Monday. Gilead Sciences, Inc. has a 1 year low of $106.84 and a 1 year high of $157.29. The business has a 50-day moving average of $130.19 and a two-hundred day moving average of $134.38. The company has a market capitalization of $158.75 billion, a P/E ratio of 17.42 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 quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, topping 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 company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same quarter last year, the firm posted $1.81 earnings per share. Gilead Sciences's revenue was up 4.4% compared to the same quarter last year. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. As a group, equities analysts predict that Gilead Sciences, Inc. will post -0.8 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.6%. Gilead Sciences's payout ratio is presently 44.69%.

Gilead Sciences Profile

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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