NewEdge Wealth LLC Acquires 27,424 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• NewEdge Wealth LLC boosted its position in Gilead Sciences by 6.8%, acquiring an additional 27,424 shares, bringing their total holdings to 432,241 shares valued at approximately $48.43 million.
• Overall, 83.67% of Gilead Sciences' stock is owned by institutional investors and hedge funds, indicating strong interest among large investors.
• Equities analysts have mixed ratings on Gilead; while Morgan Stanley raised the target price to $135, Oppenheimer reduced it to $125, reflecting varying outlooks on the company's future performance.

NewEdge Wealth LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 432,241 shares of the biopharmaceutical company's stock after purchasing an additional 27,424 shares during the period. Gilead Sciences makes up approximately 0.9% of NewEdge Wealth LLC's investment portfolio, making the stock its 21st largest holding. NewEdge Wealth LLC's holdings in Gilead Sciences were worth $48,433,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Redwood Financial Network Corp increased its position in shares of Gilead Sciences by 4.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after buying an additional 98 shares during the period. Argentarii LLC boosted its position in shares of Gilead Sciences by 3.0% during the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after purchasing an additional 99 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock worth $322,000 after purchasing an additional 100 shares in the last quarter. Peak Financial Advisors LLC grew its position in shares of Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares during the period. Finally, Perkins Coie Trust Co boosted its stake in Gilead Sciences by 2.6% during the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after acquiring an additional 100 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Oppenheimer lowered their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on 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, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $112.36.

Gilead Sciences Trading Up 0.8%

Shares of GILD stock opened at $113.18 on Friday. The business has a 50-day moving average price of $110.51 and a two-hundred day moving average price of $106.80. The firm has a market cap of $140.79 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,000 shares of company stock valued at $8,984,175. 0.27% of the stock is owned by insiders.

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.

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