Old North State Wealth Management LLC Buys 1,498 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Old North State Wealth Management LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,889 shares of the biopharmaceutical company’s stock after buying an additional 1,498 shares during the period. Gilead Sciences accounts for approximately 2.7% of Old North State Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Old North State Wealth Management LLC’s holdings in Gilead Sciences were worth $4,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Capital World Investors lifted its position in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors lifted its position in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares during the period. Legal & General Group Plc lifted its position in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after purchasing an additional 268,208 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $89.51 on Monday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $89.74. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $83.79 and its two-hundred day moving average price is $74.21. The stock has a market cap of $111.44 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 released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. As a group, analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 16th. Truist Financial upped their price target on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Ten equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is currently owned by corporate insiders.

About Gilead Sciences

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.