Cornerstone Capital Inc. Has $2.97 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cornerstone Capital Inc. trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,363 shares of the biopharmaceutical company’s stock after selling 171 shares during the quarter. Cornerstone Capital Inc.’s holdings in Gilead Sciences were worth $2,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Financial Counselors Inc. grew its holdings in shares of Gilead Sciences by 11.6% in the 1st quarter. Financial Counselors Inc. now owns 9,892 shares of the biopharmaceutical company’s stock valued at $725,000 after buying an additional 1,030 shares during the period. GSA Capital Partners LLP acquired a new stake in Gilead Sciences in the 1st quarter valued at about $462,000. Larson Financial Group LLC raised its stake in Gilead Sciences by 22.7% in the 1st quarter. Larson Financial Group LLC now owns 1,493 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 276 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Gilead Sciences during the first quarter worth approximately $4,592,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of Gilead Sciences during the first quarter worth $204,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD traded down $0.03 during trading hours on Tuesday, reaching $89.81. 590,251 shares of the company’s stock traded hands, compared to its average volume of 6,988,651. The firm’s 50 day simple moving average is $84.05 and its 200-day simple moving average is $74.38. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $90.71. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a market cap of $111.81 billion, a PE ratio of 109.56, a price-to-earnings-growth ratio of 3.12 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted 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. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Equities analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % 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, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock worth $3,033,340. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GILD. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Wells Fargo & Company raised 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 report on Monday, October 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.85.

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.