abrdn plc Sells 260,606 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

abrdn plc cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,767,955 shares of the biopharmaceutical company's stock after selling 260,606 shares during the quarter. Gilead Sciences accounts for 0.6% of abrdn plc's investment portfolio, making the stock its 22nd largest holding. abrdn plc owned about 0.30% of Gilead Sciences worth $346,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GILD. nVerses Capital LLC acquired a new stake in Gilead Sciences in the third quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Valued Wealth Advisors LLC grew its position in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 161 shares during the period. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences during the 4th quarter valued at $29,000. Finally, Crews Bank & Trust acquired a new position in Gilead Sciences during the fourth quarter worth $31,000. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the transaction, the chief financial officer now owns 129,873 shares of the company's stock, valued at approximately $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock worth $53,611,715 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an "outperform" rating and a $105.00 price objective for the company. BMO Capital Markets boosted their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Robert W. Baird raised their target price on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $98.39.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $2.00 during mid-day trading on Friday, hitting $96.04. 7,182,199 shares of the stock traded hands, compared to its average volume of 6,916,494. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $100.51. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market cap of $119.69 billion, a PE ratio of 1,067.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18. The business's 50-day moving average price is $92.97 and its 200 day moving average price is $86.49.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

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.