QRG Capital Management Inc. Trims Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

QRG Capital Management Inc. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,444 shares of the biopharmaceutical company’s stock after selling 11,865 shares during the quarter. QRG Capital Management Inc.’s holdings in Gilead Sciences were worth $20,243,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its position in 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 purchasing an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the second quarter valued at $33,000. Finally, Cedar Wealth Management LLC raised its stake in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GILD. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. BMO Capital Markets lifted their target price on Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Barclays increased their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,847 shares of company stock valued at $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD traded up $0.88 during mid-day trading on Monday, reaching $90.39. 889,916 shares of the company’s stock were exchanged, compared to its average volume of 6,994,116. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $90.39. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a 50-day simple moving average of $83.79 and a two-hundred day simple moving average of $74.21. The company has a market cap of $112.53 billion, a price-to-earnings ratio of 109.16, a PEG ratio of 3.09 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly 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 return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 3.75 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.