Forsta AP Fonden Cuts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Forsta AP Fonden reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 392,100 shares of the biopharmaceutical company’s stock after selling 5,300 shares during the quarter. Forsta AP Fonden’s holdings in Gilead Sciences were worth $36,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GILD. Avior Wealth Management LLC grew its stake in Gilead Sciences by 1.2% in the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares in the last quarter. Southland Equity Partners LLC raised its holdings in shares of Gilead Sciences by 3.6% during the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 110 shares during the period. Concord Asset Management LLC VA lifted its position in shares of Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares during the last quarter. Berkshire Bank boosted its holdings in shares of Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 111 shares during the period. Finally, TFB Advisors LLC grew its position in shares of Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 116 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 1.6 %

NASDAQ:GILD opened at $93.85 on Wednesday. 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 company has a market capitalization of $116.96 billion, a P/E ratio of 1,042.78, a P/E/G ratio of 1.31 and a beta of 0.18. The stock’s 50 day moving average price is $92.00 and its 200 day moving average price is $85.44. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 164,211 shares of the company’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 value of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 456,234 shares of company stock valued at $42,130,461. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of several recent research reports. Wolfe Research started coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Morgan Stanley raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $87.00 to $113.00 in a report on Friday, January 10th. Truist Financial upped their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Barclays lifted their price target 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 equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price 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.