Heritage Trust Co Cuts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Heritage Trust Co reduced its stake in Gilead Sciences Inc. by 5.7%, owning a total of 38,364 shares valued at approximately $4.3 million after selling 2,315 shares in the first quarter.
• Several institutional investors, including FMR LLC and Northern Trust Corp, significantly increased their holdings in Gilead during the fourth quarter, contributing to a total institutional ownership of 83.67% of the company's stock.
• CEO Daniel O'Day sold 10,000 shares of Gilead stock at an average price of $113.94, reducing his ownership by 1.62% to 605,725 shares valued at around $69 million.

Heritage Trust Co lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,364 shares of the biopharmaceutical company's stock after selling 2,315 shares during the quarter. Heritage Trust Co's holdings in Gilead Sciences were worth $4,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Northern Trust Corp increased its holdings in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $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 increased its holdings in Gilead Sciences by 15.1% during the 4th 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 worth $1,130,117,000 after purchasing an additional 1,605,730 shares during the period. Invesco Ltd. increased its holdings in Gilead Sciences by 12.9% during the 4th quarter. Invesco Ltd. now owns 11,277,915 shares of the biopharmaceutical company's stock worth $1,041,741,000 after purchasing an additional 1,292,399 shares during the period. Finally, Royal Bank of Canada increased its holdings in Gilead Sciences by 30.1% during the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the sale, the insider directly owned 117,168 shares of the company's stock, valued at $13,009,163.04. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $8,984,175 over the last 90 days. Insiders own 0.27% of the company's stock.

Gilead Sciences Stock Up 0.8%

Gilead Sciences stock opened at $113.18 on Friday. Gilead Sciences, Inc. has a twelve month low of $72.43 and a twelve month high of $119.96. The stock has a 50 day moving average of $110.51 and a two-hundred day moving average of $106.80. 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 stock has a market capitalization of $140.79 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 0.71 and a beta of 0.33.

Analyst Ratings Changes

Several equities research analysts have weighed in on GILD shares. 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 report on Friday, July 25th. Morgan Stanley upped their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Finally, Oppenheimer cut their price target 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 research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.36.

About Gilead Sciences

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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