Prosperity Consulting Group LLC Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Prosperity Consulting Group LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 25,297 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Gilead Sciences were worth $2,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after buying an additional 7,157,113 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after buying an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC raised its stake in Gilead Sciences by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock valued at $2,608,337,000 after acquiring an additional 749,047 shares during the period. Northern Trust Corp raised its stake in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gilead Sciences by 15.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company’s stock valued at $1,130,117,000 after acquiring an additional 1,605,730 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the transaction, the director directly owned 8,920 shares in the company, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the transaction, the chief executive officer owned 615,725 shares in the company, valued at approximately $68,006,826.25. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,000 shares of company stock valued at $7,844,775 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Up 2.7%

GILD stock opened at $116.20 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company’s 50 day moving average is $109.91 and its 200 day moving average is $106.12. The stock has a market cap of $144.54 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 0.73 and a beta of 0.29. Gilead Sciences, Inc. has a 1-year low of $72.43 and a 1-year high of $119.96.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. Gilead Sciences’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.32) earnings per share. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Oppenheimer lowered their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.36.

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.