Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,925 shares of the biopharmaceutical company’s stock after selling 1,205 shares during the period. CCM Investment Advisers LLC’s holdings in Gilead Sciences were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company lifted its position in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after acquiring an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. lifted its position in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP boosted its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Gilead Sciences during the first quarter worth about $134,489,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of several research reports. UBS Group reduced their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, BMO Capital Markets increased their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of “Hold” and a consensus price target of $81.88.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $1.93 on Friday, hitting $73.66. 9,060,948 shares of the company’s stock were exchanged, compared to its average volume of 7,396,841. The firm has a market cap of $91.77 billion, a price-to-earnings ratio of 203.28, a P/E/G ratio of 3.37 and a beta of 0.18. The firm’s 50-day moving average price is $69.62 and its two-hundred day moving average price is $70.55. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, research analysts expect that Gilead Sciences, Inc. will post 3.73 EPS for the current year.

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.