Gilead Sciences, Inc. (NASDAQ:GILD) Stake Lessened by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 241,444 shares of the biopharmaceutical company’s stock after selling 11,865 shares during the quarter. QRG Capital Management Inc.’s holdings in Gilead Sciences were worth $20,243,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GILD. Asset Management One Co. Ltd. raised its holdings in Gilead Sciences by 1.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 664,864 shares of the biopharmaceutical company’s stock worth $55,742,000 after acquiring an additional 12,017 shares during the period. National Pension Service increased its position in Gilead Sciences by 13.3% in the 3rd quarter. National Pension Service now owns 2,807,643 shares of the biopharmaceutical company’s stock worth $235,393,000 after buying an additional 330,290 shares during the period. Cohen Capital Management Inc. acquired a new position in shares of Gilead Sciences during the third quarter worth approximately $200,000. Old North State Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 2.7% during the 3rd quarter. Old North State Wealth Management LLC now owns 57,889 shares of the biopharmaceutical company’s stock worth $4,857,000 after acquiring an additional 1,498 shares during the period. Finally, BSW Wealth Partners boosted its position in shares of Gilead Sciences by 11.6% during the 3rd quarter. BSW Wealth Partners now owns 5,713 shares of the biopharmaceutical company’s stock valued at $479,000 after acquiring an additional 594 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. BMO Capital Markets increased their price objective on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Barclays increased their price target on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Stock Performance

NASDAQ GILD traded up $0.88 during trading hours on Monday, reaching $90.39. 889,916 shares of the company were exchanged, compared to its average volume of 6,994,116. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $90.39. The business’s 50 day simple moving average is $83.79 and its 200-day simple moving average is $74.21. The stock has a market capitalization of $112.53 billion, a P/E ratio of 109.16, a P/E/G ratio of 3.09 and a beta of 0.17. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, equities research analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Insider Activity

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

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.