Abacus FCF Advisors LLC Reduces Holdings in Gilead Sciences, Inc. $GILD

Abacus FCF Advisors LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,674 shares of the biopharmaceutical company’s stock after selling 26,340 shares during the quarter. Gilead Sciences accounts for approximately 2.0% of Abacus FCF Advisors LLC’s holdings, making the stock its 24th biggest holding. Abacus FCF Advisors LLC’s holdings in Gilead Sciences were worth $15,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. Norges Bank purchased a new stake in Gilead Sciences in the 2nd quarter worth approximately $2,150,268,000. Ameriprise Financial Inc. raised its holdings in shares of Gilead Sciences by 397.6% during the second quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock valued at $748,147,000 after acquiring an additional 5,392,191 shares in the last quarter. Invesco Ltd. lifted its stake in Gilead Sciences by 33.5% in the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after acquiring an additional 3,394,330 shares during the period. Assenagon Asset Management S.A. increased its position in Gilead Sciences by 164.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock valued at $387,286,000 after purchasing an additional 2,169,266 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Gilead Sciences during the 2nd quarter valued at $238,083,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $122.00, for a total transaction of $366,000.00. Following the completion of the sale, the insider directly owned 106,221 shares in the company, valued at approximately $12,958,962. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $125.08, for a total transaction of $625,400.00. Following the completion of the transaction, the director owned 8,920 shares in the company, valued at $1,115,713.60. The trade was a 35.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 126,257 shares of company stock valued at $15,606,892 over the last ninety days. 0.27% of the stock is owned by insiders.

Gilead Sciences Price Performance

GILD opened at $124.91 on Tuesday. The company’s 50-day simple moving average is $122.99 and its two-hundred day simple moving average is $116.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The stock has a market capitalization of $154.97 billion, a P/E ratio of 19.37, a P/E/G ratio of 0.69 and a beta of 0.32. Gilead Sciences, Inc. has a 52-week low of $88.57 and a 52-week high of $128.70.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.31. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the company earned $2.02 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is 48.99%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Gilead Sciences from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Mizuho raised their price objective on shares of Gilead Sciences from $131.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Wells Fargo & Company upped their target price on Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. HSBC lifted their price target on shares of Gilead Sciences from $110.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Finally, Argus upped their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.68.

Gilead Sciences Profile

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.