Cetera Investment Advisers Grows Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Cetera Investment Advisers boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 127.6% in the first quarter, Holdings Channel reports. The fund owned 213,901 shares of the biopharmaceutical company’s stock after purchasing an additional 119,909 shares during the period. Cetera Investment Advisers’ holdings in Gilead Sciences were worth $15,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after acquiring an additional 175,925 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Gilead Sciences by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after acquiring an additional 87,482 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Gilead Sciences during the 4th quarter worth $74,000. Eagle Asset Management Inc. raised its stake in Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after acquiring an additional 60,697 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in Gilead Sciences by 6.2% in the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after acquiring an additional 37,069 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 0.4 %

Shares of GILD opened at $76.77 on Friday. The firm 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. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The business’s fifty day moving average is $68.80 and its 200-day moving average is $70.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on GILD shares. Morgan Stanley lowered 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 research note on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Cantor Fitzgerald decreased their price objective on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, April 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Hold” and a consensus price target of $81.81.

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.