Scotia Capital Inc. Sells 10,591 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Scotia Capital Inc. reduced its holdings in Gilead Sciences, Inc. by 6.5%, selling 10,591 shares, and now owns 152,158 shares valued at approximately $17 million.
• Major institutional investors, including FMR LLC and Royal Bank of Canada, significantly increased their stakes in Gilead Sciences during the fourth quarter.
• Analysts have mixed perspectives on Gilead's stock, with a consensus rating of Moderate Buy and a price target of $112.36, while several analysts have upgraded their ratings recently.

Scotia Capital Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,158 shares of the biopharmaceutical company's stock after selling 10,591 shares during the quarter. Scotia Capital Inc.'s holdings in Gilead Sciences were worth $17,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of Gilead Sciences by 21.6% during the fourth 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 last quarter. Northern Trust Corp grew its stake in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Gilead Sciences by 15.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after purchasing an additional 1,605,730 shares during the period. Invesco Ltd. grew its stake in shares of Gilead Sciences by 12.9% during the fourth quarter. Invesco Ltd. now owns 11,277,915 shares of the biopharmaceutical company's stock worth $1,041,741,000 after purchasing an additional 1,292,399 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares during the period. Institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GILD shares. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a research note on Friday, July 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Oppenheimer decreased their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Insider Buying and Selling

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction 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 directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock valued at $8,984,175. Company insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $113.18 on Monday. The stock has a market capitalization of $140.79 billion, a PE ratio of 23.83, a P/E/G ratio of 0.71 and a beta of 0.33. 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 business has a fifty day moving average price of $110.51 and a two-hundred day moving average price of $106.91. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $119.96.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.