Manning & Napier Advisors LLC Sells 28,444 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Manning & Napier Advisors LLC reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 326,137 shares of the biopharmaceutical company’s stock after selling 28,444 shares during the period. Manning & Napier Advisors LLC’s holdings in Gilead Sciences were worth $30,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. nVerses Capital LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC increased its holdings in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences during the fourth quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the second quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in Gilead Sciences during the second quarter valued at approximately $43,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 456,234 shares of company stock worth $42,130,461. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 1.9 %

GILD traded up $1.76 on Wednesday, hitting $95.61. The company had a trading volume of 755,874 shares, compared to its average volume of 6,513,060. The stock has a fifty day moving average price of $92.00 and a 200-day moving average price of $85.44. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market capitalization of $119.16 billion, a price-to-earnings ratio of 1,062.89, a P/E/G ratio of 1.31 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $87.00 to $113.00 in a research note on Friday, January 10th. Piper Sandler increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Finally, Sanford C. Bernstein began coverage on Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $98.39.

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.