Conning Inc. Sells 79,724 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Conning Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 480,209 shares of the biopharmaceutical company’s stock after selling 79,724 shares during the quarter. Gilead Sciences makes up 1.3% of Conning Inc.’s portfolio, making the stock its 16th biggest holding. Conning Inc.’s holdings in Gilead Sciences were worth $40,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Swedbank AB purchased a new stake in Gilead Sciences in the first quarter worth about $134,489,000. International Assets Investment Management LLC raised its stake in shares of Gilead Sciences by 8,238.4% in the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after buying an additional 1,622,806 shares during the period. Capital Research Global Investors lifted its position in shares of Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after acquiring an additional 1,564,792 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 0.8 %

Shares of NASDAQ:GILD opened at $89.51 on Friday. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 109.16, a PEG ratio of 3.09 and a beta of 0.17. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $89.74. The company has a 50-day moving average price of $83.79 and a 200 day moving average price of $74.16. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

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

Analyst Upgrades and Downgrades

GILD has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Barclays upped their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.85.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the company’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 transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Company 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.