Commonwealth Equity Services LLC Buys 72,213 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Commonwealth Equity Services LLC increased its stake in Gilead Sciences by 23.3%, acquiring an additional 72,213 shares, bringing their total holdings to 382,748 shares valued at approximately $42.89 million.
• Several other institutional investors, including Bridgewater Associates, made significant moves in Gilead, with Bridgewater increasing its stake by 122.7% in the last quarter.
• Research firms have issued varying price targets for Gilead Sciences, with Morgan Stanley raising their target from $130 to $135, while Needham & Company upgraded their rating from "hold" to "buy" with a new price objective of $133.

Commonwealth Equity Services LLC boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 23.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,748 shares of the biopharmaceutical company's stock after buying an additional 72,213 shares during the quarter. Commonwealth Equity Services LLC's holdings in Gilead Sciences were worth $42,887,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GILD. Bridgewater Associates LP grew its position in shares of Gilead Sciences by 122.7% in the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after buying an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Gilead Sciences by 5.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Golden State Wealth Management LLC grew its position in Gilead Sciences by 14.5% during the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock valued at $3,422,000 after acquiring an additional 13,086 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $1,699,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the transaction, the director directly owned 8,920 shares of the company's stock, valued at approximately $978,880.80. The trade was a 35.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares in the company, valued at $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,000 shares of company stock valued at $8,984,175. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GILD. Morgan Stanley boosted their target price 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 dropped their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Finally, Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a report on Friday, July 25th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $112.36.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $114.51 on Tuesday. The stock's 50 day moving average price is $110.66 and its 200 day moving average price is $107.07. The firm has a market capitalization of $142.44 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96.

Gilead Sciences Company 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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