Modera Wealth Management LLC Sells 471 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Modera Wealth Management LLC decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,844 shares of the biopharmaceutical company’s stock after selling 471 shares during the quarter. Modera Wealth Management LLC’s holdings in Gilead Sciences were worth $406,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GILD. Miracle Mile Advisors LLC raised its holdings in Gilead Sciences by 3.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,579 shares of the biopharmaceutical company’s stock worth $555,000 after purchasing an additional 255 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Gilead Sciences by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 922,960 shares of the biopharmaceutical company’s stock worth $67,607,000 after buying an additional 35,021 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Gilead Sciences by 0.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,484,702 shares of the biopharmaceutical company’s stock worth $255,254,000 after buying an additional 10,218 shares during the period. Carret Asset Management LLC grew its position in shares of Gilead Sciences by 11.0% during the 1st quarter. Carret Asset Management LLC now owns 7,043 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 700 shares during the period. Finally, Financial Perspectives Inc grew its position in shares of Gilead Sciences by 8.7% during the 1st quarter. Financial Perspectives Inc now owns 8,053 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 644 shares during the period. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.8 %

NASDAQ GILD opened at $88.08 on Wednesday. The stock has a market capitalization of $109.73 billion, a price-to-earnings ratio of 244.67, a PEG ratio of 3.07 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $89.74. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The business’s fifty day moving average is $83.02 and its 200-day moving average is $73.76.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts predict that Gilead Sciences, Inc. will post 3.76 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on GILD shares. JPMorgan Chase & Co. raised their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,847 shares of company stock worth $3,033,340. Company 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.