SVB Wealth LLC Sells 3,919 Shares of Gilead Sciences, Inc. $GILD

SVB Wealth LLC decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,643 shares of the biopharmaceutical company’s stock after selling 3,919 shares during the period. SVB Wealth LLC’s holdings in Gilead Sciences were worth $3,524,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Legacy Trust acquired a new position in shares of Gilead Sciences in the 3rd quarter worth approximately $220,000. Warburton Capital Management LLC increased its holdings in shares of Gilead Sciences by 8.2% in the 3rd quarter. Warburton Capital Management LLC now owns 1,882 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 142 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Gilead Sciences by 12.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,208,162 shares of the biopharmaceutical company’s stock valued at $180,388,000 after acquiring an additional 137,431 shares in the last quarter. Ariadne Wealth Management LP raised its position in shares of Gilead Sciences by 8.8% during the 3rd quarter. Ariadne Wealth Management LP now owns 5,776 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 469 shares in the last quarter. Finally, Everest Financial Group LLC boosted its holdings in Gilead Sciences by 26.0% in the third quarter. Everest Financial Group LLC now owns 2,904 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 599 shares during the period. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences News Roundup

Investors following GILD have been watching these news items:

• Positive Sentiment: Gilead’s HIV business is highlighted as a growth driver: Yeztugo sales are gaining momentum, Biktarvy remains a market leader, and the company has an expanding pipeline. Article: Can Gilead Sciences’ HIV Business Fuel Sustainable Long-Term Growth?
• Negative Sentiment: Drug-price negotiations in Washington are cited as a near-term risk for Gilead, as lower prices could pressure revenue. The article does not quantify the potential impact. Article: Lilly, Gilead Face Near-Term Drug Pricing Risks As Washington Turns Up Heat
• Negative Sentiment: Some valuation commentary argues Gilead may already be fully valued after substantial share-price gains, tempering enthusiasm despite recent trial results and raised guidance. Article: Gilead Sciences After Trial Wins And Raised Guidance Looks Fully Valued

Gilead Sciences Stock Down 1.0%

GILD opened at $167.95 on Friday. Gilead Sciences, Inc. has a 12 month low of $116.88 and a 12 month high of $176.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.38 and a quick ratio of 1.22. The stock has a market cap of $208.31 billion, a P/E ratio of -53.15 and a beta of 0.35. The stock’s 50 day moving average price is $154.76 and its 200 day moving average price is $141.66.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.36. The firm had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.81 billion. Gilead Sciences had a negative return on equity of 1.85% and a negative net margin of 12.47%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 EPS. As a group, research analysts predict that Gilead Sciences, Inc. will post -0.98 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on GILD. Leerink Partners lowered shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Royal Bank Of Canada raised their price target on shares of Gilead Sciences from $126.00 to $131.00 and gave the stock a “sector perform” rating in a research report on Friday, October 30th. Barclays decreased 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. Truist Financial lifted their price target on shares of Gilead Sciences from $158.00 to $181.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Jefferies Financial Group set a $196.00 price objective on shares of Gilead Sciences in a research report on Wednesday, November 4th. Twenty-three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.07.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, EVP Wettan Keeley M. Cain sold 3,399 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $164.11, for a total transaction of $557,809.89. Following the transaction, the executive vice president owned 5,360 shares of the company’s stock, valued at approximately $879,629.60. This trade represents a 38.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $156.22, for a total transaction of $468,660.00. Following the sale, the insider owned 113,684 shares in the company, valued at $17,759,714.48. This trade represents a 2.57% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 242,709 shares of company stock worth $39,503,427. 0.30% of the stock is owned by company insiders.

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.