Kovack Advisors Inc. Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Kovack Advisors Inc. reduced its stake in Gilead Sciences by 47.2%, selling 3,680 shares and now owning 4,115 shares worth approximately $461,000.
• Notable institutional activity includes Northern Financial Advisors Inc. increasing holdings by 130.2% and Wakefield Asset Management LLLP by 521.8% during the same quarter.
• Analyst ratings for Gilead Sciences show a majority are optimistic, with fifteen analysts issuing a buy rating and an average target price of $112.36.

Kovack Advisors Inc. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 47.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,115 shares of the biopharmaceutical company's stock after selling 3,680 shares during the period. Kovack Advisors Inc.'s holdings in Gilead Sciences were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Northern Financial Advisors Inc raised its holdings in shares of Gilead Sciences by 130.2% during the 1st quarter. Northern Financial Advisors Inc now owns 9,122 shares of the biopharmaceutical company's stock worth $1,022,000 after acquiring an additional 5,160 shares during the period. Wakefield Asset Management LLLP raised its holdings in shares of Gilead Sciences by 521.8% during the 1st quarter. Wakefield Asset Management LLLP now owns 34,581 shares of the biopharmaceutical company's stock worth $3,875,000 after acquiring an additional 29,020 shares during the period. IMA Advisory Services Inc. purchased a new position in shares of Gilead Sciences during the 1st quarter worth $39,000. Madison Asset Management LLC raised its holdings in shares of Gilead Sciences by 20.0% during the 1st quarter. Madison Asset Management LLC now owns 4,800 shares of the biopharmaceutical company's stock worth $538,000 after acquiring an additional 800 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Gilead Sciences by 7.3% during the 1st quarter. Venturi Wealth Management LLC now owns 2,852 shares of the biopharmaceutical company's stock worth $320,000 after acquiring an additional 194 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GILD. 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. Oppenheimer cut their price objective 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. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $112.36.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business'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 completion of the sale, the director owned 8,920 shares in the company, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's 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 $277,575.00. Following the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,000 shares of company stock worth $7,844,775. 0.27% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of GILD opened at $116.20 on Friday. The stock has a 50-day simple moving average of $109.91 and a 200-day simple moving average of $105.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The stock has a market capitalization of $144.54 billion, a PE ratio of 24.46, a PEG ratio of 0.72 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 (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.32) EPS. On average, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

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.

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