Phoenix Financial Ltd. Acquires 5,585 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Phoenix Financial Ltd. significantly increased its stake in Gilead Sciences by 141.6% in the first quarter, owning 9,530 shares valued at approximately $1,070,000.
• Gilead Sciences reported earnings of $1.81 per share for the last quarter, exceeding expectations, despite a 0.3% decline in year-over-year revenue.
• Analysts are generally positive on Gilead, with ratings ranging from "hold" to "strong buy," and a majority of them have set price targets between $125.00 and $135.00.

Phoenix Financial Ltd. raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 141.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,530 shares of the biopharmaceutical company's stock after purchasing an additional 5,585 shares during the period. Phoenix Financial Ltd.'s holdings in Gilead Sciences were worth $1,070,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings 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 worth $1,326,000 after buying an additional 2,450 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Gilead Sciences by 84.8% in the fourth quarter. Modern Wealth Management LLC now owns 5,764 shares of the biopharmaceutical company's stock worth $550,000 after purchasing an additional 2,645 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Gilead Sciences by 3.2% in the fourth quarter. Financial Counselors Inc. now owns 8,887 shares of the biopharmaceutical company's stock worth $821,000 after purchasing an additional 274 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new stake in shares of Gilead Sciences in the fourth quarter worth $222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Gilead Sciences by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,056,190 shares of the biopharmaceutical company's stock worth $187,956,000 after purchasing an additional 166,474 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on GILD. Morgan Stanley boosted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note 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 objective on the stock in a research note on Friday, July 25th. 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 price target on the stock. Finally, Oppenheimer cut their price target 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 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. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 3,000 shares of the firm'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 completion of the sale, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm'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 transaction of $277,575.00. Following the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,000 shares of company stock worth $8,984,175. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 0.7%

NASDAQ:GILD traded up $0.79 on Wednesday, hitting $115.02. The stock had a trading volume of 1,928,571 shares, compared to its average volume of 8,428,282. The firm's fifty day simple moving average is $110.15 and its two-hundred day simple moving average is $106.34. 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 1 year low of $72.43 and a 1 year high of $119.96. The stock has a market cap of $143.08 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29.

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.