Gilead Sciences, Inc. (NASDAQ:GILD) Stock Holdings Lessened by Conning Inc.

Conning Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.5% during the 4th quarter, HoldingsChannel reports. The firm owned 415,223 shares of the biopharmaceutical company’s stock after selling 64,986 shares during the period. Gilead Sciences accounts for approximately 1.3% of Conning Inc.’s portfolio, making the stock its 7th largest position. Conning Inc.’s holdings in Gilead Sciences were worth $38,354,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after buying an additional 841,776 shares in the last quarter. Wellington Management Group LLP increased its stake in Gilead Sciences by 50.9% during 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 acquiring an additional 11,665,593 shares during the last quarter. FMR LLC raised its position in Gilead Sciences by 79.4% during the third 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Gilead Sciences by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Gilead Sciences by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock valued at $650,009,000 after purchasing an additional 224,960 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GILD. Sanford C. Bernstein assumed coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Barclays raised their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Bank of America reissued a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a research note on Tuesday, December 10th. Finally, UBS Group upped their target price on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have given 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 price target of $98.39.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $96.04 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $119.69 billion, a price-to-earnings ratio of 1,067.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18. The firm has a 50 day moving average of $92.97 and a 200 day moving average of $86.49. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $100.51.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the business posted $2.29 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 4.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 164,211 shares of the company’s 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 transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 572,824 shares of company stock worth $53,611,715. 0.29% of the stock is owned by corporate 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.