Conning Inc. Has $38.35 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Conning Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,223 shares of the biopharmaceutical company's stock after selling 64,986 shares during the period. Gilead Sciences makes up about 1.3% of Conning Inc.'s investment portfolio, making the stock its 7th largest holding. Conning Inc.'s holdings in Gilead Sciences were worth $38,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AMF Tjanstepension AB lifted its stake in shares of Gilead Sciences by 14.7% in the 3rd quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company's stock worth $33,645,000 after acquiring an additional 51,390 shares during the period. Atomi Financial Group Inc. lifted its position in Gilead Sciences by 36.0% in the third quarter. Atomi Financial Group Inc. now owns 6,081 shares of the biopharmaceutical company's stock worth $510,000 after purchasing an additional 1,610 shares during the period. Marcum Wealth LLC boosted its stake in Gilead Sciences by 26.6% during the 3rd quarter. Marcum Wealth LLC now owns 5,753 shares of the biopharmaceutical company's stock valued at $482,000 after purchasing an additional 1,208 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Gilead Sciences by 26.5% in the 3rd quarter. Wedmont Private Capital now owns 9,550 shares of the biopharmaceutical company's stock worth $806,000 after buying an additional 1,998 shares in the last quarter. Finally, San Luis Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 91.0% in the third quarter. San Luis Wealth Advisors LLC now owns 9,566 shares of the biopharmaceutical company's stock valued at $802,000 after buying an additional 4,557 shares during the period. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $2.00 during midday trading on Friday, hitting $96.04. The company's stock had a trading volume of 7,182,199 shares, compared to its average volume of 6,866,207. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $100.51. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market capitalization of $119.69 billion, a price-to-earnings ratio of 1,067.11, a PEG ratio of 1.25 and a beta of 0.18. The stock's 50 day simple moving average is $93.04 and its 200 day simple moving average is $86.76.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 earnings per share. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

GILD has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Mizuho increased their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Gilead Sciences from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $87.00 to $113.00 in a report on Friday, January 10th. The Goldman Sachs Group upped their price target on Gilead Sciences from $74.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average target price of $98.39.

Insider Buying and Selling at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $12,626,253.06. This trade represents a 52.26 % 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 valued at $53,611,715 in the last quarter. Corporate insiders own 0.16% 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.