Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Gilead Sciences by 15.6%, acquiring an additional 282,970 shares during Q1.
• Gilead Sciences reported a quarterly earnings per share (EPS) of $1.81, exceeding consensus estimates, although its revenue decreased 0.3% year-over-year.
• Institutional investors hold approximately 83.67% of Gilead Sciences stock, with nine analysts rating it as a "Moderate Buy" and setting a consensus price target of $112.36.

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100,850 shares of the biopharmaceutical company's stock after purchasing an additional 282,970 shares during the quarter. Gilead Sciences accounts for approximately 1.2% of Skandinaviska Enskilda Banken AB publ's portfolio, making the stock its 14th largest position. Skandinaviska Enskilda Banken AB publ owned about 0.17% of Gilead Sciences worth $235,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Redwood Financial Network Corp boosted its holdings in shares of Gilead Sciences by 4.0% in the 4th 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 last quarter. Argentarii LLC grew its position in Gilead Sciences by 3.0% during the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after buying an additional 99 shares during the period. Nicolet Advisory Services LLC grew its position in Gilead Sciences by 2.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after buying an additional 100 shares during the period. Peak Financial Advisors LLC grew its position in Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after buying an additional 100 shares during the period. Finally, Perkins Coie Trust Co grew its position 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 valued at $435,000 after buying an additional 100 shares during the period. Institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC upgraded 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 report on Friday. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Oppenheimer reduced 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 report on Friday, April 25th. Finally, Morgan Stanley increased their price target 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. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.36.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 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 transaction of $277,575.00. Following the completion of the sale, the chief financial officer directly owned 162,610 shares in the company, valued at $18,054,588.30. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the sale, the chief executive officer owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,000 shares of company stock valued at $7,844,775. Company insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded up $0.48 during mid-day trading on Tuesday, hitting $113.51. 2,817,335 shares of the company traded hands, compared to its average volume of 8,449,541. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96. The stock has a market cap of $141.20 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 0.73 and a beta of 0.29. 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 fifty day moving average price of $110.04 and a 200-day moving average price of $106.28.

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.