Klingenstein Fields & Co. LP Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Klingenstein Fields & Co. LP cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,564 shares of the biopharmaceutical company’s stock after selling 250 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Gilead Sciences were worth $886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Gilead Sciences during the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its position in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its position in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the 2nd quarter worth approximately $33,000. Finally, Cedar Wealth Management LLC grew its position in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GILD shares. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Stock Down 0.1 %

GILD opened at $89.38 on Monday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $89.74. 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 stock’s fifty day moving average is $83.79 and its 200-day moving average is $74.21. The company has a market capitalization of $111.28 billion, a PE ratio of 109.16, a P/E/G ratio of 3.09 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping 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 company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction 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 sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock valued at $3,033,340. Corporate insiders own 0.16% of the company’s stock.

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.