Geneos Wealth Management Inc. Decreases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Gilead Sciences by 11.4%, selling 6,562 shares and ending with 51,202 shares valued at $6,014,000.
• Gilead Sciences has received positive analytical attention, with Morgan Stanley raising its price target from $130 to $135 and several firms giving "overweight" or "buy" ratings.
• Insiders have sold approximately 82,000 shares of Gilead's stock in the last three months, which reflects a decrease in ownership among key executives.

Geneos Wealth Management Inc. decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,202 shares of the biopharmaceutical company's stock after selling 6,562 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Gilead Sciences were worth $6,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new stake in Gilead Sciences in the 1st quarter valued at $25,000. Goodman Advisory Group LLC acquired a new stake in Gilead Sciences in the 1st quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 lifted 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 purchasing an additional 241 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in Gilead Sciences in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GILD. Morgan Stanley raised their price objective on 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 upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a report on Friday, July 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, Oppenheimer decreased their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $112.36.

Insider Buying and Selling

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the transaction, the chief executive officer directly owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,000 shares of company stock valued at $8,984,175. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Trading Down 2.2%

NASDAQ GILD traded down $2.47 during trading on Thursday, hitting $112.29. The stock had a trading volume of 7,880,708 shares, compared to its average volume of 5,093,023. The company has a market capitalization of $139.68 billion, a PE ratio of 23.64, a PEG ratio of 0.72 and a beta of 0.29. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average price of $110.40 and a 200 day moving average price of $106.55. Gilead Sciences, Inc. has a twelve month low of $72.43 and a twelve month 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.