Old North State Wealth Management LLC Has $5.41 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Old North State Wealth Management LLC grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,548 shares of the biopharmaceutical company’s stock after purchasing an additional 659 shares during the period. Gilead Sciences makes up 3.0% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. Old North State Wealth Management LLC’s holdings in Gilead Sciences were worth $5,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 154 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $25,000. Decker Retirement Planning Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $29,000. Valued Wealth Advisors LLC increased its position in Gilead Sciences by 101.9% during the 3rd 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 in the last quarter. Finally, Crews Bank & Trust purchased a new position in Gilead Sciences during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $97.99 on Wednesday. The firm’s 50 day simple moving average is $92.58 and its two-hundred day simple moving average is $86.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company has a market capitalization of $122.12 billion, a P/E ratio of 1,088.78, a P/E/G ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $99.45.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Research analysts expect that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GILD has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 price target on shares of Gilead Sciences in a report on Monday. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Robert W. Baird increased their target price on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets boosted their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.39.

Insider Activity at Gilead Sciences

In other news, 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 transaction of $15,094,275.12. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 572,824 shares of company stock valued at $53,611,715. 0.29% of the stock is owned by company insiders.

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.