Private Management Group Inc. Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Private Management Group Inc. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 417,897 shares of the biopharmaceutical company's stock after selling 41,661 shares during the period. Gilead Sciences accounts for about 1.2% of Private Management Group Inc.'s investment portfolio, making the stock its 18th biggest holding. Private Management Group Inc.'s holdings in Gilead Sciences were worth $35,036,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company's stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Capital World Investors increased its holdings in shares of Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company's stock worth $6,189,435,000 after buying an additional 1,133,281 shares during the last quarter. Capital Research Global Investors raised its position in Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company's stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares during the period. Legal & General Group Plc lifted its position in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company's stock worth $851,743,000 after buying an additional 93,068 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company's stock worth $714,421,000 after purchasing an additional 268,208 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company's stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company's stock, valued at $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GILD. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They set an "outperform" rating and a $105.00 target price for the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Raymond James upgraded Gilead Sciences from a "market perform" rating to an "outperform" rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Finally, Barclays lifted their target price on Gilead Sciences from $76.00 to $84.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and an average price target of $86.85.

Gilead Sciences Stock Performance

NASDAQ:GILD traded up $0.69 during midday trading on Friday, hitting $89.51. The company's stock had a trading volume of 6,485,873 shares, compared to its average volume of 7,022,904. The firm's 50 day moving average is $83.79 and its 200-day moving average is $74.16. The firm has a market cap of $111.44 billion, a P/E ratio of 109.16, a P/E/G ratio of 3.07 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $89.74.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Equities analysts anticipate that Gilead Sciences, Inc. will post 3.76 earnings per share 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.