Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC sold 15.6% of its shares in Gilead Sciences, reducing its holdings to 98,509 shares, valued at approximately $11 million.
• Institutional investors and hedge funds own 83.67% of Gilead Sciences' stock, reflecting strong interest from major financial players.
• Gilead's shares received a range of recent ratings updates, with a consensus rating of "Moderate Buy" and an average price target of $112.36.

New Age Alpha Advisors LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,509 shares of the biopharmaceutical company's stock after selling 18,177 shares during the period. Gilead Sciences accounts for about 0.5% of New Age Alpha Advisors LLC's investment portfolio, making the stock its 28th largest position. New Age Alpha Advisors LLC's holdings in Gilead Sciences were worth $11,038,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Northern Trust Corp grew its holdings in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gilead Sciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock valued at $1,130,117,000 after purchasing an additional 1,605,730 shares during the period. Invesco Ltd. grew its holdings in Gilead Sciences by 12.9% in the fourth quarter. Invesco Ltd. now owns 11,277,915 shares of the biopharmaceutical company's stock valued at $1,041,741,000 after purchasing an additional 1,292,399 shares during the period. Royal Bank of Canada grew its holdings in Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after purchasing an additional 2,005,863 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Gilead Sciences by 27.2% in the fourth quarter. Renaissance Technologies LLC now owns 5,329,743 shares of the biopharmaceutical company's stock valued at $492,308,000 after purchasing an additional 1,141,219 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on GILD. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a report on Friday, July 25th. Cantor Fitzgerald began 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. Oppenheimer reduced 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. Finally, Morgan Stanley lifted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and an average target price of $112.36.

Gilead Sciences Stock Up 1.2%

Shares of NASDAQ:GILD opened at $114.51 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $110.66 and a 200 day simple moving average of $107.07. The firm has a market cap of $142.44 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction on Tuesday, July 15th. The stock was 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 of the company's stock, valued at approximately $13,009,163.04. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock worth $8,984,175 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.

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