Concord Asset Management LLC VA Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Concord Asset Management LLC VA increased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 205.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,329 shares of the biopharmaceutical company’s stock after purchasing an additional 6,273 shares during the quarter. Concord Asset Management LLC VA’s holdings in Gilead Sciences were worth $862,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GILD. Chicago Partners Investment Group LLC lifted its position in Gilead Sciences by 4.1% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,129 shares of the biopharmaceutical company’s stock valued at $635,000 after acquiring an additional 279 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in Gilead Sciences by 3.3% during the 4th quarter. Waldron Private Wealth LLC now owns 10,229 shares of the biopharmaceutical company’s stock valued at $945,000 after acquiring an additional 327 shares during the period. Clear Creek Financial Management LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at $1,173,000. Caprock Group LLC boosted its stake in shares of Gilead Sciences by 10.3% in the fourth quarter. Caprock Group LLC now owns 42,369 shares of the biopharmaceutical company’s stock worth $3,914,000 after buying an additional 3,970 shares during the last quarter. Finally, AA Financial Advisors LLC grew its position in shares of Gilead Sciences by 50.7% during the 4th quarter. AA Financial Advisors LLC now owns 3,842 shares of the biopharmaceutical company’s stock valued at $355,000 after acquiring an additional 1,293 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GILD shares. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Cantor Fitzgerald restated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Mizuho upped their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $98.39.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $97.20 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a market cap of $121.14 billion, a price-to-earnings ratio of 1,080.00, a PEG ratio of 1.34 and a beta of 0.18. The company’s 50-day moving average price is $92.42 and its 200 day moving average price is $85.77. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 earnings per share. As a group, research analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 456,234 shares of company stock worth $42,130,461. 0.16% of the stock is currently owned by insiders.

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.