Meritage Portfolio Management Sells 3,727 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Meritage Portfolio Management lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,876 shares of the biopharmaceutical company’s stock after selling 3,727 shares during the quarter. Meritage Portfolio Management’s holdings in Gilead Sciences were worth $5,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GILD. Bellevue Group AG lifted its position in shares of Gilead Sciences by 18.2% during the third quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock valued at $3,859,000 after purchasing an additional 7,093 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Gilead Sciences by 149.5% in the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock valued at $6,843,000 after acquiring an additional 48,910 shares in the last quarter. McAdam LLC increased its position in shares of Gilead Sciences by 16.7% during the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock valued at $2,344,000 after acquiring an additional 3,627 shares during the last quarter. IRON Financial LLC bought a new stake in Gilead Sciences during the third quarter worth $830,000. Finally, Capital Investment Advisors LLC boosted its position in Gilead Sciences by 2.6% in the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after purchasing an additional 9,791 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on GILD. Oppenheimer raised their target price on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup initiated coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company upped their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group raised their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.39.

Gilead Sciences Stock Performance

Shares of GILD opened at $97.99 on Wednesday. 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 50-day moving average price of $92.71 and a 200-day moving average price of $86.32. The company has a market cap of $122.12 billion, a PE ratio of 1,088.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $99.45.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 4.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock worth $53,611,715 over the last 90 days. Corporate insiders own 0.29% 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.