5,707 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by West Michigan Advisors LLC

Key Points

• West Michigan Advisors LLC purchased 5,707 shares of Gilead Sciences, valued at approximately $639,000, marking a new position during the first quarter.
• Several institutional investors have increased their stakes in Gilead, with hedge funds and other institutions now owning 83.67% of the stock.
• Gilead's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $112.36.

West Michigan Advisors LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,707 shares of the biopharmaceutical company's stock, valued at approximately $639,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after acquiring an additional 2,450 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $523,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Gilead Sciences by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 75,918 shares of the biopharmaceutical company's stock valued at $7,013,000 after purchasing an additional 511 shares in the last quarter. Sierra Summit Advisors LLC lifted its position in shares of Gilead Sciences by 67.6% during the 4th quarter. Sierra Summit Advisors LLC now owns 23,075 shares of the biopharmaceutical company's stock worth $2,131,000 after purchasing an additional 9,305 shares during the last quarter. Finally, Certior Financial Group LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth $330,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a report on Friday, July 25th. Morgan Stanley increased their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.36.

Gilead Sciences Stock Performance

GILD stock remained flat at $110.28 on Thursday. The company had a trading volume of 9,177,248 shares, compared to its average volume of 5,652,979. The firm's 50-day moving average price is $110.75 and its two-hundred day moving average price is $107.25. The company has a market capitalization of $137.18 billion, a P/E ratio of 23.22, a P/E/G ratio of 0.70 and a beta of 0.33. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the transaction, the chief executive officer owned 605,725 shares of the company's stock, valued at $69,016,306.50. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $333,090.00. Following the transaction, the insider directly owned 117,168 shares in the company, valued at $13,009,163.04. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock valued at $8,984,175 over the last quarter. 0.27% of the stock is currently owned by company insiders.

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.