Forsta AP Fonden Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Forsta AP Fonden trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 392,100 shares of the biopharmaceutical company’s stock after selling 5,300 shares during the quarter. Forsta AP Fonden’s holdings in Gilead Sciences were worth $36,218,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GILD. Asset Dedication LLC grew its holdings in Gilead Sciences by 43.3% in the 4th quarter. Asset Dedication LLC now owns 6,421 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 1,940 shares in the last quarter. Twelve Points Wealth Management LLC acquired a new position in shares of Gilead Sciences during the 4th quarter valued at about $611,000. SteelPeak Wealth LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at about $4,921,000. Mayflower Financial Advisors LLC acquired a new position in Gilead Sciences in the 4th quarter valued at about $317,000. Finally, BSW Wealth Partners grew its stake in shares of Gilead Sciences by 5.9% in the 4th quarter. BSW Wealth Partners now owns 6,048 shares of the biopharmaceutical company’s stock valued at $559,000 after buying an additional 335 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. This represents a 64.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 456,234 shares of company stock valued at $42,130,461 in the last ninety days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 1.6 %

NASDAQ:GILD opened at $93.85 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a market cap of $116.96 billion, a P/E ratio of 1,042.78, a P/E/G ratio of 1.31 and a beta of 0.18. The stock has a 50-day simple moving average of $92.00 and a 200-day simple moving average of $85.44.

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

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Bank of America restated a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. UBS Group boosted their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, Citigroup began coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.39.

About Gilead Sciences

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.