Abacus FCF Advisors LLC trimmed its position in Gilead Sciences by 16.0% during the third quarter, selling 26,340 shares and retaining 138,674 shares at period end. The remaining stake, valued at $15.39 million based on the latest reporting, represents 2.0% of Abacus FCF’s total holdings and ranks Gilead as its 24th largest position. This divestiture signals a modest rotation within the firm’s biopharmaceutical exposure as it reallocates capital to higher conviction ideas.

Several large investors have recently reshaped their Gilead holdings. Norges Bank established a new position valued at approximately $2.15 billion in the second quarter, while Ameriprise Financial increased its stake by 397.6% to 6.75 million shares, now worth $748.15 million. Invesco lifted its holding by 33.5% to 13.52 million shares ($1.50 billion), and Assenagon Asset Management boosted its position by 164.4% to 3.49 million shares ($387.29 million) in the third quarter. Kingstone Capital Partners Texas opened a new $238.08 million position in the second quarter. Institutional investors now control 83.67% of Gilead’s outstanding stock.

In recent months, company insiders have sold a total of 126,257 shares worth $15.61 million. Senior vice president Johanna Mercier sold 3,000 shares at an average price of $122.00 on December 15, reducing her holding by 2.75% to 106,221 shares valued at $12.96 million. Director Jeffrey Bluestone divested 5,000 shares at $125.08 on November 28, cutting his stake by 35.92% to 8,920 shares worth $1.12 million. Insiders now own just 0.27% of the company’s stock, marking heightened sales pressure from within.

Gilead reported third-quarter earnings per share of $2.47, beating consensus by $0.31, on revenue of $7.77 billion versus estimates of $7.42 billion. Net margin reached 27.88% and return on equity soared to 51.86%, with revenue growing 3.0% year-over-year. The company set its full-year 2025 EPS guidance at a range of 8.05 to 8.25, above analysts’ consensus forecast of 7.95. Management cited stable antiviral sales and incremental contributions from newer oncology assets as key drivers of the upgrade.