Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,503 shares of the biopharmaceutical company’s stock after selling 168 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Gilead Sciences were worth $755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the third quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the first quarter worth about $29,000. Cedar Wealth Management LLC lifted its stake in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the second quarter worth about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.2 %

NASDAQ:GILD opened at $88.29 on Thursday. The firm has a market capitalization of $110.00 billion, a PE ratio of 245.25, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18. The stock has a 50 day moving average of $83.28 and a 200-day moving average of $73.86. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $89.74. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Analysts predict that Gilead Sciences, Inc. will post 3.76 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on GILD. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $100.00 in a research note on Monday, October 7th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price target on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.85.

Insider Buying and Selling

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

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.