Optas LLC Purchases New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Optas LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,597 shares of the biopharmaceutical company’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after acquiring an additional 841,776 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares in the last quarter. FMR LLC grew its holdings in shares of Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after buying an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Gilead Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock valued at $650,009,000 after buying an additional 224,960 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.4 %

NASDAQ:GILD opened at $97.99 on Wednesday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $99.45. The company has a market cap of $122.12 billion, a PE ratio of 1,088.78, a PEG ratio of 1.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The firm has a 50-day moving average of $92.58 and a 200-day moving average of $86.14.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

Analysts Set New Price Targets

GILD has been the subject of several recent research reports. Oppenheimer upped their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Barclays increased their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. BMO Capital Markets lifted their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America reissued a “buy” rating and issued a $109.00 price target on shares of Gilead Sciences in a research note on Tuesday, December 10th. Finally, Citigroup began coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective on the stock. Eleven equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.39.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences 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 transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on 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 approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 572,824 shares of company stock worth $53,611,715. Corporate insiders own 0.29% 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.