Gilead Sciences, Inc. (NASDAQ:GILD) Position Lessened by Conning Inc.

Conning Inc. decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 415,223 shares of the biopharmaceutical company’s stock after selling 64,986 shares during the quarter. Gilead Sciences comprises approximately 1.3% of Conning Inc.’s portfolio, making the stock its 7th biggest position. Conning Inc.’s holdings in Gilead Sciences were worth $38,354,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP boosted its stake in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Gilead Sciences by 723.3% in the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after purchasing an additional 5,653,075 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Gilead Sciences by 350.1% during the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after purchasing an additional 1,793,145 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after purchasing an additional 1,622,806 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock valued at $53,611,715 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

GILD has been the subject of a number of analyst reports. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. UBS Group lifted their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Citigroup started coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” 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 given a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $96.04 on Friday. 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 stock has a 50-day simple moving average of $92.97 and a two-hundred day simple moving average of $86.49. The firm has a market capitalization of $119.69 billion, a PE ratio of 1,067.11, a P/E/G ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $100.51.

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

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.