US Bancorp DE Has $98.29 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• US Bancorp DE has reduced its stake in Gilead Sciences by 19.9%, now owning approximately 877,222 shares valued at $98.29 million.
• Analysts have mixed opinions on Gilead's stock, with Oppenheimer lowering its target price to $125.00, while Morgan Stanley increased it to $135.00, and Needham upgraded the stock to a "buy" with a target of $133.00.
• Insider activity includes CEO Daniel O'day selling 10,000 shares for over $1.13 million, representing a 1.62% decrease in his ownership, amidst a broader trend of insider selling at Gilead Sciences.

US Bancorp DE decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 877,222 shares of the biopharmaceutical company's stock after selling 218,098 shares during the quarter. US Bancorp DE owned about 0.07% of Gilead Sciences worth $98,293,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences in the first quarter valued at approximately $29,000. Core Alternative Capital boosted its position in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 241 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Gilead Sciences in the first quarter valued at approximately $39,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Gilead Sciences by 158.8% in the fourth 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 during the period. Institutional investors own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

GILD has been the subject of several research reports. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Oppenheimer reduced their target price on 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, Needham & Company LLC raised 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.36.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the completion of the sale, the chief executive officer owned 615,725 shares in the company, valued at $68,006,826.25. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,000 shares of company stock worth $8,984,175. Company insiders own 0.27% of the company's stock.

Gilead Sciences Trading Up 1.2%

GILD traded up $1.33 during midday trading on Monday, reaching $114.51. 5,633,402 shares of the company were exchanged, compared to its average volume of 5,536,027. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96. 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 market capitalization of $142.44 billion, a P/E 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.

Gilead Sciences Company 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.