Morningstar Investment Management LLC Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Morningstar Investment Management LLC reduced its stake in Gilead Sciences by 14.6%, ending the first quarter with 12,891 shares valued at approximately $1.44 million.
• Several large investors, including FMR LLC and Wellington Management Group, increased their holdings during the fourth quarter, highlighting positive investor sentiment towards GILD.
• Analyst ratings on Gilead Sciences have been mixed, with Oppenheimer lowering its price target to $125 and Needham & Company upgrading it to a 'buy' with a $133 target price.

Morningstar Investment Management LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,891 shares of the biopharmaceutical company's stock after selling 2,212 shares during the quarter. Morningstar Investment Management LLC's holdings in Gilead Sciences were worth $1,444,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in 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. WINTON GROUP Ltd bought a new position in Gilead Sciences during the 4th quarter worth about $362,000. IPG Investment Advisors LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at about $217,000. CIBC Private Wealth Group LLC lifted its position in shares of Gilead Sciences by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 45,205 shares of the biopharmaceutical company's stock valued at $4,030,000 after buying an additional 2,983 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Up 0.9%

Shares of NASDAQ:GILD traded up $1.00 during midday trading on Friday, hitting $113.29. 3,069,647 shares of the stock traded hands, compared to its average volume of 8,414,198. The stock has a market capitalization of $140.93 billion, a PE ratio of 23.86, a P/E/G ratio of 0.72 and a beta of 0.29. The business's 50 day moving average is $110.40 and its two-hundred day moving average is $106.55. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GILD shares. 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. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 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 note on Friday, April 25th. Finally, Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.36.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider owned 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the 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 $277,575.00. Following the sale, the chief financial officer owned 162,610 shares in the company, 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. Insiders sold 82,000 shares of company stock valued at $8,984,175 in the last three months. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences 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.