PGGM Investments Cuts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

PGGM Investments decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 36.8% in the first quarter, Holdings Channel reports. The institutional investor owned 55,034 shares of the biopharmaceutical company’s stock after selling 32,033 shares during the period. PGGM Investments’ holdings in Gilead Sciences were worth $4,031,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $29,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the first quarter worth about $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $30,000. Rakuten Securities Inc. purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $33,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.4 %

NASDAQ:GILD traded up $0.28 on Friday, hitting $76.77. The stock had a trading volume of 6,458,108 shares, compared to its average volume of 6,392,589. The company has a fifty day moving average price of $68.80 and a two-hundred day moving average price of $70.88. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The stock has a market cap of $95.64 billion, a price-to-earnings ratio of 213.25, a PEG ratio of 3.37 and a beta of 0.18.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GILD. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Barclays lowered their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. UBS Group lowered their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.81.

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.