abrdn plc Sells 113,485 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

abrdn plc lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 4,028,561 shares of the biopharmaceutical company’s stock after selling 113,485 shares during the quarter. Gilead Sciences comprises 0.6% of abrdn plc’s portfolio, making the stock its 25th biggest holding. abrdn plc’s holdings in Gilead Sciences were worth $336,465,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Miracle Mile Advisors LLC lifted its holdings in Gilead Sciences by 3.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,579 shares of the biopharmaceutical company’s stock valued at $555,000 after buying an additional 255 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Gilead Sciences by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 922,960 shares of the biopharmaceutical company’s stock worth $67,607,000 after acquiring an additional 35,021 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Gilead Sciences by 12.9% during the first quarter. Capital Advisors Ltd. LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 162 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Gilead Sciences by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,484,702 shares of the biopharmaceutical company’s stock valued at $255,254,000 after purchasing an additional 10,218 shares during the period. Finally, Carret Asset Management LLC grew its stake in Gilead Sciences by 11.0% in the first quarter. Carret Asset Management LLC now owns 7,043 shares of the biopharmaceutical company’s stock worth $516,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Piper Sandler restated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 11th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Barclays upped their target price on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred 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 owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,847 shares of company stock valued at $3,033,340. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 0.3 %

Gilead Sciences stock opened at $88.76 on Tuesday. The business’s 50-day simple moving average is $82.75 and its two-hundred day simple moving average is $73.62. The company has a market cap of $110.58 billion, a PE ratio of 246.56, a PEG ratio of 3.07 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week 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.

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

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.