Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly increased its stake in Gilead Sciences by 116.4%, owning 2,364,202 shares valued at approximately $264.9 million.
• Several institutional investors, including FMR LLC and Wellington Management Group, have also boosted their holdings in Gilead Sciences, collectively owning 83.67% of the company's stock.
• The stock price of Gilead Sciences has increased 2.7% recently, with the company reporting earnings of $1.81 per share, surpassing analysts' expectations by $0.04.

TD Asset Management Inc increased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 116.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,364,202 shares of the biopharmaceutical company's stock after acquiring an additional 1,271,497 shares during the quarter. TD Asset Management Inc owned about 0.19% of Gilead Sciences worth $264,909,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Redwood Financial Network Corp increased its position in shares of Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 98 shares during the last quarter. Argentarii LLC increased its holdings in Gilead Sciences by 3.0% in the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after acquiring an additional 99 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in Gilead Sciences by 2.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after buying an additional 100 shares in the last quarter. Peak Financial Advisors LLC grew its holdings in Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after buying an additional 100 shares in the last quarter. Finally, Perkins Coie Trust Co grew its holdings in Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 100 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Morgan Stanley raised their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Cantor Fitzgerald initiated 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. Finally, Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and an average price target of $112.36.

Insiders Place Their Bets

In related news, 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 transaction, the insider directly owned 117,168 shares of the company's stock, valued at approximately $13,009,163.04. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 2,500 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 value of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock valued at $8,984,175 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Price Performance

Shares of GILD traded up $0.60 during mid-day trading on Wednesday, hitting $114.83. The company's stock had a trading volume of 2,300,940 shares, compared to its average volume of 8,431,193. 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 firm has a 50-day simple moving average of $110.15 and a 200 day simple moving average of $106.34. The firm has a market capitalization of $142.84 billion, a P/E ratio of 24.17, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 1-year low of $72.43 and a 1-year high of $119.96.

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.