Wedbush Securities Inc. Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wedbush Securities Inc. lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,949 shares of the biopharmaceutical company's stock after selling 2,209 shares during the period. Wedbush Securities Inc.'s holdings in Gilead Sciences were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction dated 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 directly owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. This represents a 1.60% decrease in their position. The sale 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 dated Tuesday, July 15th. The shares were 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 $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. Insiders have sold 72,000 shares of company stock valued at $7,844,775 in the last quarter. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. 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 note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.38.

Gilead Sciences Stock Down 0.3%

Shares of Gilead Sciences stock traded down $0.36 during trading on Thursday, hitting $113.20. The company's stock had a trading volume of 4,103,572 shares, compared to its average volume of 5,936,346. 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 company has a fifty day simple moving average of $109.63 and a two-hundred day simple moving average of $105.71. The company has a market capitalization of $140.81 billion, a PE ratio of 23.83, a P/E/G ratio of 0.73 and a beta of 0.29. Gilead Sciences, Inc. has a 52 week low of $72.43 and a 52 week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. Gilead Sciences's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned ($1.32) EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

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.