Abacus Cuts Gilead Stake 16% While Norges Bank Begins $2.15 Billion Position
Abacus FCF Advisors reduced its Gilead Sciences holding by 16% in the third quarter, selling 26,340 shares to leave 138,674 shares valued at $15.39 million as its 24th-largest position. Norges Bank launched a new $2.15 billion stake and Ameriprise Financial boosted its Gilead shares by 397.6% to 6.75 million shares worth $748 million.
1. Abacus FCF Advisors Trims Position in Gilead Sciences
In its latest Form 13F filing, Abacus FCF Advisors LLC reduced its stake in Gilead Sciences by 16.0% during the third quarter, selling 26,340 shares and ending the period with 138,674 shares. This holding now represents approximately 2.0% of the firm’s overall portfolio, ranking Gilead as its 24th largest position. At the close of the reporting period, the remaining shares were valued at $15.39 million, reflecting a strategic reallocation by the advisory firm.
2. Major Institutional Investors Increase Exposure
Several large institutions have recently increased their Gilead holdings. Norges Bank initiated a new position worth $2.15 billion in the second quarter. Ameriprise Financial boosted its stake by 397.6%, adding 5.39 million shares to reach 6.75 million shares valued at $748.15 million. Invesco lifted its holdings by 33.5%, acquiring 3.39 million additional shares for a total of 13.52 million shares valued at $1.50 billion. Assenagon Asset Management expanded its position by 164.4%, adding 2.17 million shares to hold 3.49 million shares valued at $387.29 million.
3. Insider Sales Reflect Caution
Company insiders have recently reduced their positions, with EVP Johanna Mercier selling 3,000 shares at an average price of $122.00 on December 15th for proceeds of $366,000, decreasing her stake by 2.75% to 106,221 shares. Director Jeffrey Bluestone sold 5,000 shares at $125.08 on November 28th for $625,400, cutting his holdings by 35.92% to 8,920 shares. Over the past ninety days, insiders have sold a total of 126,257 shares valued at $15.61 million, representing 0.27% of outstanding shares.
4. Strong Q3 Results, Guidance and Dividend
In its third-quarter release, Gilead reported adjusted earnings of $2.47 per share, beating consensus estimates by $0.31, and revenues of $7.77 billion, up 3.0% year-over-year and exceeding expectations by $0.35 billion. Net margin stood at 27.9% and return on equity at 51.9%. The company reaffirmed full-year guidance of 8.05 to 8.25 EPS for 2025 and analysts collectively project 7.95 EPS for the current year. Gilead declared a quarterly dividend of $0.79 per share, translating to a $3.16 annualized payout and a 2.5% yield, with a payout ratio of 48.99%.