PGGM Investments Sells 32,033 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

PGGM Investments lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 36.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,034 shares of the biopharmaceutical company’s stock after selling 32,033 shares during the period. PGGM Investments’ holdings in Gilead Sciences were worth $4,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GILD. Stonegate Investment Group LLC increased its stake in Gilead Sciences by 6.7% during the 4th quarter. Stonegate Investment Group LLC now owns 7,297 shares of the biopharmaceutical company’s stock worth $591,000 after acquiring an additional 460 shares during the period. Colonial River Wealth Management LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at $340,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Gilead Sciences by 125.4% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,055 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 587 shares during the last quarter. Trust Point Inc. bought a new position in shares of Gilead Sciences in the 4th quarter valued at $365,000. Finally, Ballentine Partners LLC increased its stake in shares of Gilead Sciences by 60.4% in the 4th quarter. Ballentine Partners LLC now owns 15,135 shares of the biopharmaceutical company’s stock valued at $1,226,000 after purchasing an additional 5,702 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GILD shares. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Morgan Stanley decreased their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a research note on Friday, April 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 price target on shares of Gilead Sciences in a research note on Monday, July 1st. Finally, Barclays reduced their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.81.

Gilead Sciences Trading Up 0.4 %

GILD traded up $0.28 during midday trading on Friday, hitting $76.77. 6,458,108 shares of the company were exchanged, compared to its average volume of 6,392,589. The firm has a market capitalization of $95.64 billion, a P/E ratio of 213.25, a P/E/G ratio of 3.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The firm’s 50 day moving average price is $68.80 and its 200-day moving average price is $70.88. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Gilead Sciences 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.