Conning Inc. Sells 79,724 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Conning Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 480,209 shares of the biopharmaceutical company’s stock after selling 79,724 shares during the quarter. Gilead Sciences makes up about 1.3% of Conning Inc.’s portfolio, making the stock its 16th biggest position. Conning Inc.’s holdings in Gilead Sciences were worth $40,261,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GILD. Sumitomo Life Insurance Co. raised its holdings in shares of Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 117 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Gilead Sciences by 3.9% in the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 123 shares in the last quarter. Roberts Wealth Advisors LLC raised its stake in Gilead Sciences by 1.9% in the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after buying an additional 130 shares in the last quarter. Wagner Wealth Management LLC lifted its holdings in Gilead Sciences by 1.7% during the third quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock worth $673,000 after buying an additional 135 shares during the period. Finally, Institute for Wealth Management LLC. boosted its position in Gilead Sciences by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 142 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,033,340 over the last quarter. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Performance

GILD opened at $89.51 on Friday. The firm has a 50 day moving average of $83.79 and a two-hundred day moving average of $74.16. The firm has a market capitalization of $111.44 billion, a PE ratio of 109.16, a P/E/G ratio of 3.09 and a beta of 0.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $89.74.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GILD. Royal Bank of Canada restated a “sector perform” rating and set a $75.00 price objective on shares of Gilead Sciences in a research note on Tuesday, October 29th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Piper Sandler reissued an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.85.

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.