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KLP Kapitalforvaltning AS Has $86.96 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Gilead Sciences logo with Medical background

KLP Kapitalforvaltning AS raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 776,108 shares of the biopharmaceutical company's stock after purchasing an additional 21,500 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of Gilead Sciences worth $86,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Gilead Sciences during the 4th quarter worth about $1,789,254,000. FMR LLC lifted its holdings in shares of 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 acquiring an additional 7,157,113 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Gilead Sciences by 13,891.1% during the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock worth $285,761,000 after acquiring an additional 2,532,070 shares during the period. Northern Trust Corp lifted its holdings in shares of 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 acquiring an additional 2,458,954 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Gilead Sciences by 422.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock worth $282,706,000 after acquiring an additional 2,040,261 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $333,090.00. Following the transaction, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This represents a 2.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the transaction, the chief executive officer owned 615,725 shares in the company, valued at approximately $68,006,826.25. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,000 shares of company stock worth $7,844,775. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD traded up $1.89 during trading hours on Tuesday, reaching $110.17. 4,487,230 shares of the company traded hands, compared to its average volume of 7,648,989. The stock's fifty day moving average is $108.81 and its 200 day moving average is $105.35. The stock has a market cap of $137.04 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a 1-year low of $70.78 and a 1-year high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the previous year, the business earned ($1.32) EPS. The firm's revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on GILD. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Oppenheimer reduced their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Morgan Stanley boosted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $111.38.

Get Our Latest Analysis on GILD

About Gilead Sciences

(Free Report)

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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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