NorthRock Partners LLC Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

NorthRock Partners LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 22.1% in the 3rd quarter, Holdings Channel reports. The firm owned 2,947 shares of the biopharmaceutical company’s stock after selling 837 shares during the period. NorthRock Partners LLC’s holdings in Gilead Sciences were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. raised its holdings in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 117 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Gilead Sciences by 3.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 123 shares in the last quarter. Roberts Wealth Advisors LLC lifted its holdings in Gilead Sciences by 1.9% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock valued at $599,000 after purchasing an additional 130 shares in the last quarter. Wagner Wealth Management LLC grew its holdings in shares of Gilead Sciences by 1.7% during the third quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock worth $673,000 after buying an additional 135 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its position in shares of Gilead Sciences by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 142 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $75.00 price objective on shares of Gilead Sciences in a research report on Tuesday, October 29th. Truist Financial upped their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.85.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $91.69 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The company has a market cap of $114.15 billion, a P/E ratio of 111.82, a P/E/G ratio of 3.13 and a beta of 0.17. The stock has a 50-day moving average of $84.58 and a two-hundred day moving average of $74.67. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $91.98.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.