Equitable Trust Co. Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Equitable Trust Co. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,180 shares of the biopharmaceutical company’s stock after selling 424 shares during the quarter. Equitable Trust Co.’s holdings in Gilead Sciences were worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Soltis Investment Advisors LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at $242,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at $118,000. Savant Capital LLC raised its stake in shares of Gilead Sciences by 2.0% in the fourth quarter. Savant Capital LLC now owns 27,921 shares of the biopharmaceutical company’s stock valued at $2,579,000 after acquiring an additional 558 shares during the period. Wagner Wealth Management LLC raised its stake in shares of Gilead Sciences by 8.5% in the fourth quarter. Wagner Wealth Management LLC now owns 8,710 shares of the biopharmaceutical company’s stock valued at $805,000 after acquiring an additional 684 shares during the period. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GILD shares. Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $87.00 to $113.00 in a research note on Friday, January 10th. Barclays increased their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $84.00 price target on shares of Gilead Sciences in a research note on Monday, February 3rd. Finally, Oppenheimer raised their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.39.

Gilead Sciences Stock Down 0.6 %

NASDAQ:GILD opened at $95.48 on Tuesday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $100.51. The stock has a market capitalization of $118.99 billion, a P/E ratio of 1,060.89, a P/E/G ratio of 1.25 and a beta of 0.18. 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’s 50-day simple moving average is $93.04 and its 200-day simple moving average is $86.86.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences 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 completion of the sale, the insider now owns 80,801 shares of the company’s stock, valued at $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 572,824 shares of company stock worth $53,611,715. Corporate insiders own 0.16% of the company’s stock.

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.