Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Lowered by Private Management Group Inc.

Private Management Group Inc. trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417,897 shares of the biopharmaceutical company’s stock after selling 41,661 shares during the period. Gilead Sciences accounts for 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 18th biggest holding. Private Management Group Inc.’s holdings in Gilead Sciences were worth $35,036,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. raised its position in 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 buying an additional 117 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of 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 during the period. Roberts Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 1.9% in the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after purchasing an additional 130 shares in the last quarter. Wagner Wealth Management LLC boosted 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 purchasing an additional 135 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 142 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of GILD stock traded up $0.69 during mid-day trading on Friday, reaching $89.51. The company’s stock had a trading volume of 6,485,873 shares, compared to its average volume of 7,022,904. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm’s 50-day moving average is $83.79 and its two-hundred day moving average is $74.12. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $89.74. The company has a market cap of $111.44 billion, a P/E ratio of 109.16, a PEG ratio of 3.07 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, research analysts predict that Gilead Sciences, Inc. will post 3.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GILD. BMO Capital Markets increased their target price on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their target price on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein started coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.85.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

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.