Concord Wealth Partners Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Concord Wealth Partners increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 194.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,375 shares of the biopharmaceutical company’s stock after buying an additional 6,194 shares during the quarter. Concord Wealth Partners’ holdings in Gilead Sciences were worth $866,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the third quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its stake in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at $29,000. Crews Bank & Trust acquired a new stake in shares of Gilead Sciences in the fourth quarter worth $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the second quarter valued at $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on GILD shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wolfe Research started coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 456,234 shares of company stock valued at $42,130,461. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $97.20 on Friday. The business’s fifty day moving average price is $92.42 and its 200 day moving average price is $85.77. The firm has a market capitalization of $121.14 billion, a PE ratio of 1,080.00, a price-to-earnings-growth ratio of 1.34 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results 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 net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

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.