Wellington Management Group LLP Sells 838,308 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Wellington Management reduced its Gilead Sciences stake by 6.2%, selling 838,308 shares during the second quarter but retaining 12.7 million shares valued at approximately $1.60 billion. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly revenue of $7.80 billion, exceeding analyst expectations of $7.40 billion, while adjusted EPS of negative $6.75 was better than estimates. Revenue increased 10.6% year over year, and the company declared a quarterly dividend of $0.82 per share, yielding about 2.3%.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $158.04. Recent FDA and European approvals for HIV and breast-cancer treatments could support growth, although several insiders have sold shares under pre-arranged trading plans.

Wellington Management Group LLP reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,699,683 shares of the biopharmaceutical company's stock after selling 838,308 shares during the quarter. Wellington Management Group LLP owned approximately 1.02% of Gilead Sciences worth $1,604,478,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $25,000. Persistent Asset Partners Ltd acquired a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $25,000. Kimelman & Baird LLC bought a new stake in Gilead Sciences in the second quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC increased its stake in Gilead Sciences by 71.4% in the fourth 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. Finally, Quattro Advisors LLC acquired a new position in Gilead Sciences in the fourth quarter worth about $26,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of GILD stock opened at $145.68 on Friday. 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, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The firm's 50 day moving average price is $134.25 and its two-hundred day moving average price is $136.62. The stock has a market cap of $180.64 billion, a PE ratio of -54.56 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analysts' expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The company's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. As a group, analysts forecast that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is presently -122.85%.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Barclays lowered their price objective on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen raised Gilead Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. HSBC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Finally, Truist Financial lowered their price target on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Twenty-four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.04.

More Gilead Sciences News

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

• Positive Sentiment: The FDA approved Bixlenvo, a once-daily single-tablet regimen combining bictegravir and lenacapavir for virologically suppressed adults with HIV. It is the first and only single-tablet option for patients on complex regimens who cannot use currently available alternatives, potentially expanding Gilead’s HIV franchise and supporting its longer-term lenacapavir strategy. Reuters FDA approval article
• Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients, strengthening Gilead’s oncology portfolio and adding a potential growth opportunity outside its core HIV business. EU Trodelvy approval article
• Neutral Sentiment: Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of approximately $158. However, GILD’s strong multi-year advance may have raised expectations and limited the immediate upside from the Bixlenvo approval. Gilead valuation article
• Negative Sentiment: Director Anthony Welters sold 18,000 shares worth about $2.68 million, reducing his position by roughly 58%. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a limited bearish signal, but it may still weigh modestly on investor sentiment. SEC insider transaction filing

Insider Activity

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares in the company, valued at $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal 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, CEO Daniel Patrick O'day sold 15,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the sale, the chief executive officer directly owned 592,133 shares in the company, valued at approximately $77,160,851.23. This represents a 2.47% 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. In the last quarter, insiders sold 105,000 shares of company stock valued at $14,238,120. 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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