Financial Advocates Investment Management Sells 6,372 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Financial Advocates Investment Management lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 42.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,739 shares of the biopharmaceutical company’s stock after selling 6,372 shares during the quarter. Financial Advocates Investment Management’s holdings in Gilead Sciences were worth $807,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GILD. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the third quarter valued at $25,000. HHM Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 154 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $28,000. Finally, Decker Retirement Planning Inc. purchased a new position in Gilead Sciences in the fourth quarter worth about $29,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock worth $53,611,715 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Gilead Sciences Trading Down 2.0 %

Shares of NASDAQ:GILD opened at $96.04 on Friday. The company has a market capitalization of $119.69 billion, a PE ratio of 1,067.11, a P/E/G ratio of 1.37 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $100.51. The business’s fifty day simple moving average is $92.97 and its 200-day simple moving average is $86.49.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating 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 business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 4.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $87.00 to $113.00 in a research report on Friday, January 10th. UBS Group lifted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Citigroup assumed coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. Robert W. Baird upped their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research report on Monday, February 3rd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.39.

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.