Walled Lake Planning & Wealth Management LLC Sells 28,896 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Walled Lake Planning & Wealth Management LLC decreased its position in Gilead Sciences (NASDAQ:GILD) by 33.8%, owning 56,539 shares after selling 28,896 shares during the first quarter.
• Several other institutional investors have also shifted their stakes in Gilead, with 83.67% of the stock currently owned by hedge funds and institutional investors.
• Analysts have mixed ratings for Gilead, with Needham & Company LLC upgrading it to a "buy" and setting a target price of $133, while Morgan Stanley raised their target price to $135.

Walled Lake Planning & Wealth Management LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 33.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 56,539 shares of the biopharmaceutical company's stock after selling 28,896 shares during the period. Gilead Sciences makes up approximately 2.2% of Walled Lake Planning & Wealth Management LLC's holdings, making the stock its 13th largest position. Walled Lake Planning & Wealth Management LLC's holdings in Gilead Sciences were worth $6,335,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Redwood Financial Network Corp grew its stake 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 valued at $234,000 after purchasing an additional 98 shares during the period. Argentarii LLC boosted its position in shares of Gilead Sciences by 3.0% in the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after purchasing an additional 99 shares during the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Gilead Sciences by 2.9% in the 4th 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 during the last quarter. Peak Financial Advisors LLC boosted its position in shares of Gilead Sciences by 1.7% in the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after purchasing an additional 100 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.53 during trading on Wednesday, hitting $114.76. 5,809,687 shares of the company were exchanged, compared to its average volume of 5,101,239. The business's 50 day moving average is $110.29 and its 200-day moving average is $106.39. The company has a market capitalization of $142.75 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. 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 1-year low of $72.43 and a 1-year high of $119.96.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GILD. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research note 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 report on Friday, April 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Finally, Oppenheimer cut their price objective 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. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.36.

Insider Buying and Selling at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 162,610 shares in the company, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,000 shares of company stock worth $8,984,175. Company insiders own 0.27% of the company's stock.

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.