J. Safra Sarasin Holding AG Has $87.29 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• J. Safra Sarasin Holding AG reduced its holdings in Gilead Sciences by 2.9%, owning 779,055 shares worth approximately $87.3 million as of the latest SEC filing.
• Several hedge funds have adjusted their stakes in Gilead; notably, Bank of Nova Scotia increased its position by 32.5% during the same period.
• Insider transactions include CFO Andrew D. Dickinson and Director Jeffrey Bluestone selling shares valued at a combined total of approximately $826,275 in July.

J. Safra Sarasin Holding AG reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,055 shares of the biopharmaceutical company's stock after selling 23,142 shares during the period. Gilead Sciences makes up about 1.6% of J. Safra Sarasin Holding AG's investment portfolio, making the stock its 12th biggest holding. J. Safra Sarasin Holding AG owned approximately 0.06% of Gilead Sciences worth $87,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GILD. Bank of Nova Scotia boosted its position in Gilead Sciences by 32.5% in the 1st quarter. Bank of Nova Scotia now owns 1,025,650 shares of the biopharmaceutical company's stock valued at $114,924,000 after buying an additional 251,803 shares during the last quarter. R Squared Ltd bought a new position in shares of Gilead Sciences during the first quarter worth about $705,000. Banco Santander S.A. lifted its position in shares of Gilead Sciences by 12.9% during the first quarter. Banco Santander S.A. now owns 159,844 shares of the biopharmaceutical company's stock worth $17,911,000 after purchasing an additional 18,269 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Gilead Sciences by 263.0% during the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 9,800 shares of the biopharmaceutical company's stock worth $1,098,000 after purchasing an additional 7,100 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Gilead Sciences by 3.6% during the first quarter. PNC Financial Services Group Inc. now owns 408,113 shares of the biopharmaceutical company's stock worth $45,729,000 after purchasing an additional 14,312 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on GILD shares. 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. Cantor Fitzgerald started 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. Morgan Stanley increased their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC upgraded 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. Eight equities research 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $112.36.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the sale, the chief executive officer directly owned 615,725 shares in the company, valued at approximately $68,006,826.25. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,000 shares of company stock valued at $8,984,175. Insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $0.89 on Friday, hitting $113.18. The company had a trading volume of 5,016,320 shares, compared to its average volume of 5,536,027. The business has a 50-day simple moving average of $110.51 and a 200-day simple moving average of $106.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The company has a market cap of $140.79 billion, a PE ratio of 23.83, a PEG ratio of 0.71 and a beta of 0.33. Gilead Sciences, Inc. has a 52 week low of $72.43 and a 52 week 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.