InterOcean Capital Group LLC Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

InterOcean Capital Group LLC reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,179 shares of the biopharmaceutical company’s stock after selling 484 shares during the quarter. InterOcean Capital Group LLC’s holdings in Gilead Sciences were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $30,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the first quarter worth about $29,000. Rakuten Securities Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $33,000. Finally, Gladius Capital Management LP purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $34,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GILD. Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Maxim Group lowered their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. TD Cowen lowered their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.81.

Gilead Sciences Stock Up 4.1 %

Shares of NASDAQ GILD traded up $3.01 during trading on Thursday, reaching $76.51. 11,731,208 shares of the stock were exchanged, compared to its average volume of 7,466,100. The business’s 50-day moving average price is $67.43 and its 200 day moving average price is $71.19. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $95.32 billion, a price-to-earnings ratio of 204.17, a price-to-earnings-growth ratio of 3.04 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 3.72 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Company 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.