Earned Wealth Advisors LLC Buys Shares of 5,187 Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Earned Wealth Advisors LLC acquired 5,187 shares of Gilead Sciences, valued at approximately $581,000, indicating renewed interest from institutional investors in the biopharmaceutical sector.
• Insider sales have been notable, with key executives selling a total of 82,000 shares worth $8.98 million in the last 90 days, suggesting potential shifts in insider confidence.
• Analysts have raised their price targets for Gilead, with Morgan Stanley increasing their target to $135.00, reflecting a generally positive sentiment towards the company's future performance.

Earned Wealth Advisors LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,187 shares of the biopharmaceutical company's stock, valued at approximately $581,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Gilead Sciences during the fourth quarter valued at about $523,000. Massachusetts Financial Services Co. MA raised its stake in shares of Gilead Sciences by 0.7% during the fourth 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. Nicolet Advisory Services LLC raised its stake in shares of Gilead Sciences by 2.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 100 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in shares of Gilead Sciences by 11.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 10,909 shares of the biopharmaceutical company's stock valued at $1,005,000 after purchasing an additional 1,125 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 3,000 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 $333,090.00. Following the completion of the sale, the insider directly owned 117,168 shares in the company, valued at approximately $13,009,163.04. The trade was a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $548,700.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective 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. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research note on Friday, July 25th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Finally, Oppenheimer cut their price target 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. Eight equities research 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 company. According to MarketBeat, Gilead Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $112.36.

Gilead Sciences Trading Up 0.8%

NASDAQ:GILD opened at $113.18 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $119.96. The stock's 50-day moving average is $110.51 and its two-hundred day moving average is $106.80. The stock has a market cap of $140.79 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33.

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.

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