abrdn plc Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

abrdn plc lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,767,955 shares of the biopharmaceutical company’s stock after selling 260,606 shares during the period. Gilead Sciences makes up approximately 0.6% of abrdn plc’s portfolio, making the stock its 22nd biggest holding. abrdn plc owned approximately 0.30% of Gilead Sciences worth $346,087,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in Gilead Sciences during the 3rd quarter worth approximately $25,000. HHM Wealth Advisors LLC raised its position in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Valued Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 161 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Gilead Sciences during the 4th quarter worth $29,000. Finally, Crews Bank & Trust bought a new position in Gilead Sciences during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 598,414 shares of company stock worth $55,953,200 over the last three months. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GILD shares. Daiwa America raised Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Oppenheimer upped their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Barclays upped their target price on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Mizuho upped their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Bank of America reaffirmed a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a report on Tuesday, December 10th. Eleven investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.39.

Gilead Sciences Trading Up 1.2 %

Gilead Sciences stock opened at $98.38 on Tuesday. The stock has a market cap of $122.61 billion, a P/E ratio of 1,093.11, a PEG ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $99.45. The firm’s fifty day moving average price is $92.42 and its 200-day moving average price is $85.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced 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 previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.34 earnings per share for the current fiscal year.

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.