OLD National Bancorp IN Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

OLD National Bancorp IN boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 17,395 shares of the biopharmaceutical company’s stock after acquiring an additional 857 shares during the quarter. OLD National Bancorp IN’s holdings in Gilead Sciences were worth $1,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after acquiring an additional 841,776 shares during the period. Wellington Management Group LLP lifted its position in Gilead Sciences by 50.9% during the 3rd 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 period. FMR LLC lifted its position in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the period. Geode Capital Management LLC lifted its position in Gilead Sciences by 2.1% during 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 acquiring an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 worth $650,009,000 after acquiring an additional 224,960 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock worth $42,130,461 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Morgan Stanley raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $87.00 to $113.00 in a research report on Friday, January 10th. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Robert W. Baird boosted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Bank of America reissued a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Finally, Barclays boosted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.39.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $96.95 on Friday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The stock has a 50 day moving average of $92.14 and a two-hundred day moving average of $85.51. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a market cap of $120.83 billion, a P/E ratio of 1,077.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18.

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

Gilead Sciences 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.