Gilead Sciences, Inc. $GILD Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,348,141 shares of the biopharmaceutical company’s stock after selling 163,821 shares during the period. Pictet Asset Management Holding SA owned approximately 0.19% of Gilead Sciences worth $351,407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AlphaCentric Advisors LLC boosted its holdings in Gilead Sciences by 4.2% in the third quarter. AlphaCentric Advisors LLC now owns 21,278 shares of the biopharmaceutical company’s stock worth $3,171,000 after purchasing an additional 852 shares during the last quarter. Plancorp LLC grew its holdings in Gilead Sciences by 14.1% during the third quarter. Plancorp LLC now owns 7,473 shares of the biopharmaceutical company’s stock valued at $1,114,000 after purchasing an additional 922 shares during the period. May Hill Capital LLC increased its holdings in Gilead Sciences by 15.8% in the 3rd quarter. May Hill Capital LLC now owns 2,968 shares of the biopharmaceutical company’s stock worth $442,000 after acquiring an additional 405 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Gilead Sciences by 1.1% in the third quarter. Ashton Thomas Private Wealth LLC now owns 62,752 shares of the biopharmaceutical company’s stock worth $9,353,000 after purchasing an additional 665 shares in the last quarter. Finally, Providence First Trust Co increased its stake in Gilead Sciences by 22.9% in the 3rd quarter. Providence First Trust Co now owns 4,641 shares of the biopharmaceutical company’s stock worth $692,000 after buying an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel O’Day sold 102,619 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $175.16, for a total value of $17,974,744.04. Following the completion of the transaction, the chief executive officer owned 551,683 shares of the company’s stock, valued at $96,632,794.28. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 business’s stock in a transaction on Monday, August 17th. The stock was 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 of the company’s stock, valued at approximately $16,273,727.76. The trade was a 19.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 239,310 shares of company stock worth $38,945,617. Corporate insiders own 0.30% of the company’s stock.

Key Stories Impacting Gilead Sciences

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

• Positive Sentiment: New HIV-prevention data showed twice-yearly lenacapavir achieved nearly twice the one-year treatment persistence of daily oral F/TDF, a result that could support Gilead’s long-acting HIV-prevention strategy. Article: New Data Show Twice-Yearly Lenacapavir Achieved Nearly Twice the One-Year Persistence
• Positive Sentiment: In the Phase 3 IDEAL study, Livdelzi (seladelpar) achieved ALP normalization in about 75% of participants with primary biliary cholangitis. The results may strengthen its case for broader second-line use, although the stock reportedly fell following the update. Article: Gilead’s Livdelzi Achieves 75% ALP Normalization
• Positive Sentiment: Recent third-quarter results beat analyst estimates for earnings and revenue, and Gilead raised full-year product-sales guidance. The company also maintained its quarterly dividend at $0.82 per share. Article: Did Earnings Beat Just Shift Gilead Sciences’ Investment Narrative?
• Neutral Sentiment: CEO Daniel O’Day sold more than 112,000 shares across November 4–5, but the transactions were conducted under a pre-arranged Rule 10b5-1 plan. He retained 551,683 shares, which may temper concerns about the sales. SEC Form 4 filing

Gilead Sciences Price Performance

Shares of GILD stock opened at $166.89 on Friday. Gilead Sciences, Inc. has a 52-week low of $116.88 and a 52-week high of $176.58. The firm has a market capitalization of $207.00 billion, a P/E ratio of -52.81 and a beta of 0.35. The stock has a 50 day moving average price of $153.04 and a 200 day moving average price of $140.94. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.95 and a current ratio of 1.38.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.36. The firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.81 billion. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post -1.07 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is presently -103.80%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GILD shares. Scotiabank boosted their price target on Gilead Sciences from $177.00 to $200.00 and gave the stock a “sector outperform” rating in a report on Friday, October 30th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Citigroup lifted their price objective on shares of Gilead Sciences from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Bank of America boosted their target price on Gilead Sciences from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, HSBC upped their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Twenty-three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.15.

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.