EverSource Wealth Advisors LLC Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

EverSource Wealth Advisors LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,114 shares of the biopharmaceutical company’s stock after selling 181 shares during the period. EverSource Wealth Advisors LLC’s holdings in Gilead Sciences were worth $228,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in shares of Gilead Sciences by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after buying an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Gilead Sciences by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after buying an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $74,000. Eagle Asset Management Inc. grew its stake in shares of Gilead Sciences by 23.6% in the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after buying an additional 60,697 shares during the period. Finally, ARGA Investment Management LP grew its stake in shares of Gilead Sciences by 6.2% in the 4th quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock valued at $51,446,000 after buying an additional 37,069 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GILD. Maxim Group decreased their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley decreased their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $74.00 price objective on shares of Gilead Sciences in a report on Monday, July 1st. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and an average price target of $81.81.

Gilead Sciences Stock Up 0.4 %

Shares of GILD traded up $0.28 during midday trading on Friday, reaching $76.77. The stock had a trading volume of 6,458,108 shares, compared to its average volume of 6,392,589. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company’s fifty day simple moving average is $68.80 and its two-hundred day simple moving average is $70.77. The company has a market cap of $95.64 billion, a price-to-earnings ratio of 213.25, a PEG ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.