AE Wealth Management LLC Sells 27,168 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• AE Wealth Management LLC has reduced its position in Gilead Sciences, Inc. by 49.5%, selling 27,168 shares during the first quarter and holding 27,674 shares afterward, worth approximately $3.1 million.
• Recent insider trading included Director Jeffrey Bluestone selling 5,000 shares for $548,700, resulting in a 35.92% decrease in his ownership.
• Gilead Sciences' stock received multiple analyst upgrades, with Morgan Stanley raising its price target to $135 and a consensus rating of "Moderate Buy" with an average target price of $112.36.

AE Wealth Management LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 49.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,674 shares of the biopharmaceutical company's stock after selling 27,168 shares during the quarter. AE Wealth Management LLC's holdings in Gilead Sciences were worth $3,101,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new position in Gilead Sciences in the 1st quarter valued at about $25,000. Goodman Advisory Group LLC bought a new position in Gilead Sciences in the 1st quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 216 shares during the period. Core Alternative Capital raised its holdings in Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 241 shares during the period. Finally, IMA Advisory Services Inc. bought a new position in Gilead Sciences in the 1st quarter valued at about $39,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares of the company's stock, valued at $18,054,588.30. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,000 shares of company stock worth $7,844,775 over the last ninety days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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 report on Friday, April 25th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a report on Friday. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Finally, Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.36.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $116.20 on Friday. The company has a market cap of $144.54 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $109.91 and a 200 day simple moving average of $105.88. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.32) EPS. Research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share 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.

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