Gilead Sciences, Inc. $GILD Stake Trimmed by Curated Wealth Partners LLC

Curated Wealth Partners LLC decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 98.0% in the third quarter, HoldingsChannel.com reports. The fund owned 4,361 shares of the biopharmaceutical company’s stock after selling 211,831 shares during the period. Curated Wealth Partners LLC’s holdings in Gilead Sciences were worth $650,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GILD. BlackRock Inc. purchased a new stake in Gilead Sciences in the second quarter worth about $15,393,785,000. State Street Corp boosted its holdings in shares of Gilead Sciences by 2.3% during the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock valued at $7,734,099,000 after buying an additional 1,357,967 shares in the last quarter. Invesco Ltd. lifted its position in Gilead Sciences by 2.9% during the 4th quarter. Invesco Ltd. now owns 15,584,341 shares of the biopharmaceutical company’s stock valued at $1,912,822,000 after acquiring an additional 444,660 shares during the period. Amundi boosted its stake in Gilead Sciences by 10.7% during the first quarter. Amundi now owns 10,539,111 shares of the biopharmaceutical company’s stock worth $1,468,836,000 after acquiring an additional 1,018,976 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Gilead Sciences in the second quarter worth about $1,316,606,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $157.37 on Friday. The stock’s 50-day simple moving average is $146.73 and its 200-day simple moving average is $137.15. The company has a market capitalization of $195.13 billion, a price-to-earnings ratio of -58.94 and a beta of 0.31. Gilead Sciences, Inc. has a 52 week low of $114.02 and a 52 week high of $160.51. 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 (NASDAQ:GILD) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 earnings per share. As a group, analysts expect that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. Gilead Sciences’s payout ratio is -122.85%.

Key Stories Impacting Gilead Sciences

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Leerink Partners cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Truist Financial raised their price objective on shares of Gilead Sciences from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Bank of America reiterated a “buy” rating and issued a $164.00 target price on shares of Gilead Sciences in a research note on Monday. Finally, Zacks Research downgraded shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Twenty-three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.33.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the completion of the transaction, the chief financial officer owned 164,096 shares in the company, valued at approximately $23,841,507.84. The trade was a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the completion of the sale, the director directly owned 12,894 shares in the company, valued at approximately $1,916,306.28. This represents a 58.26% decrease in their position. 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 in the last quarter. Company insiders own 0.30% of the company’s stock.

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.