Stone Summit Wealth LLC Has $2.82 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Stone Summit Wealth LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,503 shares of the biopharmaceutical company’s stock after acquiring an additional 1,798 shares during the quarter. Stone Summit Wealth LLC’s holdings in Gilead Sciences were worth $2,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares during the period. Southland Equity Partners LLC boosted its stake in shares of Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 110 shares during the period. Concord Asset Management LLC VA increased its holdings in shares of Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 111 shares during the last quarter. Berkshire Bank raised its stake in Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 111 shares during the period. Finally, TFB Advisors LLC boosted its position in Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock valued at $53,611,715 over the last three months. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GILD. Mizuho increased their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird boosted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial increased their target price on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Barclays boosted their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Eleven 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 stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $98.39.

Gilead Sciences Trading Down 2.0 %

Shares of GILD stock opened at $96.04 on Monday. The company has a market capitalization of $119.69 billion, a PE ratio of 1,067.11, a price-to-earnings-growth ratio of 1.25 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. The business’s fifty day moving average is $93.04 and its 200 day moving average is $86.76. 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 released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the firm posted $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal 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.