Vestcor Inc Decreases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Vestcor Inc reduced its stake in Gilead Sciences by 6.4% during the first quarter, selling 14,070 shares and now holds 204,181 shares valued at approximately $22.88 million.
• Equities research analysts have set a range of price targets for Gilead Sciences, with Cantor Fitzgerald issuing a target of $125.00 and Morgan Stanley increasing their target from $130.00 to $135.00.
• Insider trading activity has been noted with Gilead's CFO selling 2,500 shares; in total, insiders sold 82,000 shares valued at about $8.98 million over the past three months.

Vestcor Inc lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,181 shares of the biopharmaceutical company's stock after selling 14,070 shares during the period. Gilead Sciences comprises 0.8% of Vestcor Inc's investment portfolio, making the stock its 24th biggest position. Vestcor Inc's holdings in Gilead Sciences were worth $22,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Gilead Sciences by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 216 shares in the last quarter. Core Alternative Capital raised its position in shares of Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded down $0.04 during trading on Friday, reaching $112.25. The company's stock had a trading volume of 665,766 shares, compared to its average volume of 8,396,990. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96. The company has a market capitalization of $139.63 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The business has a 50 day moving average price of $110.40 and a 200-day moving average price of $106.55.

Analysts Set New Price Targets

GILD has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a research report on Friday, July 25th. Morgan Stanley lifted their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Oppenheimer cut their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 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. Based on data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and a consensus target price of $112.36.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction 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. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the sale, the insider owned 117,168 shares in the company, valued at approximately $13,009,163.04. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock valued at $8,984,175 in the last three months. 0.27% of the stock is owned by company insiders.

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.