Mackenzie Financial Corp Boosts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Mackenzie Financial Corp increased its holdings in Gilead Sciences by 345.7% in Q1, owning approximately 2.5 million shares valued at $280.15 million.
• Institutional investors currently own 83.67% of Gilead Sciences stock, with significant increases from firms like FMR LLC and Wellington Management Group.
• Analyst ratings for Gilead Sciences show a consensus rating of "Moderate Buy" with an average target price of $112.36.

Mackenzie Financial Corp increased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 345.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,500,209 shares of the biopharmaceutical company's stock after acquiring an additional 1,939,273 shares during the period. Mackenzie Financial Corp owned about 0.20% of Gilead Sciences worth $280,148,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences in the 1st quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences during the 1st quarter worth approximately $29,000. Core Alternative Capital lifted its stake in 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 purchasing an additional 241 shares in the last quarter. IMA Advisory Services Inc. bought a new position in Gilead Sciences in the 1st quarter worth about $39,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings 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 valued at $33,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GILD. Oppenheimer cut their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Morgan Stanley raised their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company 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 target price for the company in a research report on Friday, July 25th. Eight 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $112.36.

Insider Buying and Selling at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares in the company, valued at $978,880.80. This trade represents a 35.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction dated 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 owned 605,725 shares in the company, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,000 shares of company stock worth $8,984,175. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 1.4%

GILD stock traded down $1.65 during midday trading on Thursday, hitting $113.11. The stock had a trading volume of 2,682,047 shares, compared to its average volume of 8,412,170. The business has a 50-day moving average of $110.29 and a two-hundred day moving average of $106.39. 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 firm has a market cap of $140.70 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 52-week low of $72.43 and a 52-week high of $119.96.

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.