Financial Advocates Investment Management Sells 6,372 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Financial Advocates Investment Management lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,739 shares of the biopharmaceutical company’s stock after selling 6,372 shares during the quarter. Financial Advocates Investment Management’s holdings in Gilead Sciences were worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after buying an additional 11,665,593 shares during the period. Pacer Advisors Inc. boosted its position in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Down 2.0 %

GILD opened at $96.04 on Friday. The firm’s 50 day simple moving average is $92.97 and its two-hundred day simple moving average is $86.49. The company has a market capitalization of $119.69 billion, a PE ratio of 1,067.11, a PEG ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $100.51. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILDGet Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 4.34 EPS for the current year.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares in the company, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 572,824 shares of company stock worth $53,611,715. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

GILD has been the topic of several recent research reports. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.39.

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Gilead Sciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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