Glenview Trust Co Purchases New Stake in Gilead Sciences, Inc. $GILD

Glenview Trust Co purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 192,157 shares of the biopharmaceutical company’s stock, valued at approximately $26,781,000.

A number of other large investors have also made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new position in shares of Gilead Sciences during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC grew its stake in 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 last quarter. Quattro Advisors LLC purchased a new position in Gilead Sciences during the 4th quarter valued at about $26,000. Finally, Wealth Preservation Advisors LLC lifted its holdings in shares of Gilead Sciences by 60.0% in the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the sale, the chief financial officer directly owned 165,646 shares in the company, valued at $22,918,780.56. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed 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, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the transaction, the insider owned 118,234 shares of the company’s stock, valued at approximately $16,273,727.76. This trade represents a 19.15% 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. Over the last three months, insiders have sold 105,000 shares of company stock valued at $14,238,120. 0.30% of the stock is currently owned by corporate insiders.

Gilead Sciences Price Performance

GILD opened at $148.86 on Friday. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29. The company’s 50 day simple moving average is $133.81 and its 200 day simple moving average is $136.55. The stock has a market capitalization of $184.58 billion, a PE ratio of -55.75 and a beta of 0.32. 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 (NASDAQ:GILD) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating 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 firm had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Daiwa Securities Group dropped their price target on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 19th. Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $146.00 to $127.00 in a report on Tuesday, July 21st. Maxim Group upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research report on Wednesday, May 20th. Finally, Weiss Ratings lowered Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $158.04.

Trending Headlines about Gilead Sciences

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

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.