Concord Wealth Partners Increases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Concord Wealth Partners boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 194.7% in the fourth quarter, HoldingsChannel reports. The firm owned 9,375 shares of the biopharmaceutical company’s stock after purchasing an additional 6,194 shares during the period. Concord Wealth Partners’ holdings in Gilead Sciences were worth $866,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences in the fourth quarter worth about $29,000. Crews Bank & Trust bought a new stake in Gilead Sciences in the fourth quarter valued at about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences during the second quarter worth $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 456,234 shares of company stock valued at $42,130,461. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GILD shares. BMO Capital Markets increased their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target on the stock. Citigroup began coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eleven 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.39.

Gilead Sciences Stock Performance

Shares of GILD opened at $97.20 on Friday. The company has a market capitalization of $121.14 billion, a PE ratio of 1,080.00, a PEG ratio of 1.34 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company’s 50 day moving average price is $92.42 and its 200 day moving average price is $85.77. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

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.