United Capital Financial Advisors LLC Trims Stake in Gilead Sciences, Inc. $GILD

Key Points

• United Capital Financial Advisors cut its Gilead stake by 25.3% in the second quarter, selling 36,536 shares and retaining 108,152 shares valued at approximately $13.7 million. Institutional investors collectively own 83.67% of the stock.
• Gilead received important regulatory wins, including FDA approval for the once-daily HIV treatment Bixlenvo and European approval of Trodelvy plus Keytruda for certain metastatic triple-negative breast cancer patients, strengthening its HIV and oncology growth prospects.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $158.04. Gilead also reported quarterly revenue of $7.8 billion, up 10.6% year over year, and declared a quarterly dividend of $0.82 per share.

United Capital Financial Advisors LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,152 shares of the biopharmaceutical company's stock after selling 36,536 shares during the period. United Capital Financial Advisors LLC's holdings in Gilead Sciences were worth $13,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vermillion & White Wealth Management Group LLC raised its stake in shares of Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 85 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $25,000. Persistent Asset Partners Ltd acquired a new stake in Gilead Sciences in the 2nd quarter valued at approximately $25,000. Quattro Advisors LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at approximately $26,000. Finally, Wealth Preservation Advisors LLC lifted its stake in Gilead Sciences by 60.0% during the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 81 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

More Gilead Sciences News

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

• Positive Sentiment: The U.S. Food and Drug Administration approved Bixlenvo, Gilead’s once-daily single-tablet HIV regimen combining bictegravir and lenacapavir. It is the first and only single-tablet option for virologically suppressed adults on complex treatment regimens who cannot use currently available alternatives. The approval could broaden Gilead’s HIV franchise and supports its strategy of using lenacapavir in long-term HIV treatment and prevention. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients. The label expansion strengthens Gilead’s oncology franchise and provides another potential source of revenue growth beyond its core HIV business. EU Trodelvy approval article
• Positive Sentiment: Recent investor commentary points to continued optimism around Gilead’s HIV prevention medicines, including the potential growth of its PrEP portfolio. Analysts and investors also view the stock as potentially undervalued relative to its fundamentals despite a strong five-year performance, which may support further interest. Gilead HIV catalyst article
• Neutral Sentiment: Gilead will present at the Wells Fargo, Cantor and Morgan Stanley healthcare conferences in September. These events could provide updates on Bixlenvo, HIV prevention, Trodelvy and the broader pipeline, but they do not create an immediate change to financial results. Gilead investor conferences announcement
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth approximately $2.68 million, reducing his holdings by about 58%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than a discretionary insider sale, but it may still modestly weigh on sentiment. SEC insider transaction filing

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Barclays lowered their target price on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. HSBC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $133.00 to $155.00 in a research note on Monday, July 6th. Weiss Ratings cut shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Maxim Group raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Wednesday, May 20th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.04.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total value of $2,675,160.00. Following the sale, the director directly owned 12,894 shares of the company's stock, valued at approximately $1,916,306.28. This represents a 58.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 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 sale, the director directly owned 10,066 shares of the company's stock, valued at approximately $1,459,771.32. This trade represents a 33.19% 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 have sold a total of 105,000 shares of company stock worth $14,238,120 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Gilead Sciences Price Performance

GILD stock opened at $148.86 on Friday. The business's 50-day moving average is $133.81 and its two-hundred day moving average is $136.55. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the company posted $2.01 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's payout ratio is -122.85%.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source