Clark Estates Inc. NY Sells 9,908 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Clark Estates Inc. NY reduced its holdings in Gilead Sciences by 27.6%, owning 26,022 shares worth approximately $2.9 million as of its latest SEC filing.
• Recent analyst reports show a mixed outlook for Gilead, with Oppenheimer lowering its price target to $125 while Needham & Company upgraded its rating to "buy" with a target of $133.
• Insider trading activity included CEO Daniel O'day selling 10,000 shares for over $1.1 million, decreasing his holdings by 1.62%.

Clark Estates Inc. NY lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 27.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,022 shares of the biopharmaceutical company's stock after selling 9,908 shares during the quarter. Gilead Sciences makes up 0.6% of Clark Estates Inc. NY's holdings, making the stock its 21st biggest holding. Clark Estates Inc. NY's holdings in Gilead Sciences were worth $2,916,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences during the first quarter worth $25,000. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences during the first quarter worth $29,000. Core Alternative Capital grew its stake in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 241 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Gilead Sciences in the first quarter valued at $39,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 216 shares during the period. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ:GILD traded down $0.04 during trading on Friday, reaching $112.25. The company's stock had a trading volume of 665,766 shares, compared to its average volume of 8,396,990. The firm has a market cap of $139.63 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The firm has a 50 day moving average of $110.40 and a 200-day moving average of $106.55. Gilead Sciences, Inc. has a 12 month low of $72.43 and a 12 month high of $119.96.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Oppenheimer cut their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock 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 target price for the company in a research report on Friday, July 25th. Morgan Stanley boosted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Eight research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Insiders Place Their Bets

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the transaction, the chief executive officer owned 615,725 shares in the company, valued at $68,006,826.25. This represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 over the last 90 days. Company insiders own 0.27% of the company's stock.

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.