Gilead Sciences, Inc. (NASDAQ:GILD) is LSV Asset Management's 4th Largest Position

Key Points

• LSV Asset Management has reduced its stake in Gilead Sciences by 2.2%, now holding approximately $551.26 million worth of shares, representing 1.3% of its investment portfolio.
• Other institutional investors have significantly increased their positions in Gilead, with FMR LLC raising its stake by 21.6%, while GAMMA Investing LLC boosted its holdings by an astounding 13,891.1% in the first quarter.
• Wall Street analysts are generally optimistic about Gilead Sciences, with many ratings upgrades, including Morgan Stanley raising their price target from $130 to $135, contributing to the stock's consensus rating of "Moderate Buy."

LSV Asset Management trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,919,790 shares of the biopharmaceutical company's stock after selling 108,708 shares during the period. Gilead Sciences accounts for 1.3% of LSV Asset Management's portfolio, making the stock its 4th largest holding. LSV Asset Management owned 0.40% of Gilead Sciences worth $551,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GILD. Smallwood Wealth Investment Management LLC purchased a new position in shares of Gilead Sciences in the 1st quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in shares of Gilead Sciences in the 1st quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 216 shares in the last quarter. Core Alternative Capital grew its stake in shares of Gilead Sciences by 370.8% in the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 241 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in shares of Gilead Sciences in the 1st quarter worth $39,000. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the transaction, the insider owned 117,168 shares in the company, 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 is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer owned 605,725 shares of the company's stock, valued at $69,016,306.50. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last ninety days. Insiders own 0.27% of the company's stock.

Gilead Sciences Trading Up 1.2%

Gilead Sciences stock traded up $1.33 during midday trading on Monday, hitting $114.51. 5,633,402 shares of the stock were exchanged, compared to its average volume of 5,536,027. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $119.96. The stock has a market capitalization of $142.44 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 0.71 and a beta of 0.33. The stock's 50-day simple moving average is $110.51 and its 200 day simple moving average is $106.91. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research note on Friday, July 25th. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Finally, Oppenheimer dropped their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $112.36.

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.