3,372 Gilead Sciences, Inc. $GILD Shares Sold by Iams Wealth Management LLC

Iams Wealth Management LLC lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,814 shares of the biopharmaceutical company’s stock after selling 3,372 shares during the period. Gilead Sciences accounts for approximately 0.9% of Iams Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Iams Wealth Management LLC’s holdings in Gilead Sciences were worth $3,252,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of Nova Scotia acquired a new stake in shares of Gilead Sciences during the second quarter valued at $100,056,000. Groupe la Francaise increased its position in Gilead Sciences by 30.9% during the 2nd quarter. Groupe la Francaise now owns 49,627 shares of the biopharmaceutical company’s stock worth $6,270,000 after purchasing an additional 11,712 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Gilead Sciences in the 2nd quarter valued at about $55,754,000. Baird Financial Group Inc. raised its stake in Gilead Sciences by 3.6% in the 2nd quarter. Baird Financial Group Inc. now owns 292,295 shares of the biopharmaceutical company’s stock valued at $36,929,000 after purchasing an additional 10,206 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Gilead Sciences in the 2nd quarter valued at about $6,251,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were 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 represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $144.22, for a total transaction of $432,660.00. Following the completion of the sale, the insider directly owned 116,684 shares in the company, valued at $16,828,166.48. This represents a 2.51% 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. Insiders have sold 105,000 shares of company stock worth $14,940,540 over the last ninety days. Insiders own 0.30% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $157.37 on Friday. The company 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 quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 52 week low of $114.02 and a 52 week high of $160.51. The business has a fifty day simple moving average of $146.73 and a 200-day simple moving average of $137.15.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Gilead Sciences, Inc. will post -0.47 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.1%. Gilead Sciences’s payout ratio is -122.85%.

Key Gilead Sciences News

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Barclays lowered their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Gilead Sciences from $123.00 to $126.00 and gave the company a “sector perform” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley reduced their price objective on shares of Gilead Sciences from $165.00 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.33.

Gilead Sciences 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.