Prio Wealth Limited Partnership reduced its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 59,164 shares of the biopharmaceutical company’s stock after selling 325 shares during the period. Prio Wealth Limited Partnership’s holdings in Gilead Sciences were worth $3,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Gilead Sciences by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 16,867,065 shares of the biopharmaceutical company’s stock worth $1,053,332,000 after acquiring an additional 835,915 shares during the last quarter. Parnassus Investments CA increased its stake in Gilead Sciences by 21.2% during the first quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock worth $849,976,000 after acquiring an additional 2,288,767 shares during the last quarter. Norges Bank bought a new stake in Gilead Sciences during the fourth quarter worth approximately $798,882,000. Sanders Capital LLC increased its stake in Gilead Sciences by 5.0% during the first quarter. Sanders Capital LLC now owns 11,291,933 shares of the biopharmaceutical company’s stock worth $793,701,000 after acquiring an additional 539,793 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Gilead Sciences by 3.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,213,760 shares of the biopharmaceutical company’s stock worth $338,947,000 after acquiring an additional 167,292 shares during the last quarter. 78.85% of the stock is currently owned by institutional investors.

In related news, EVP Brett A. Pletcher sold 5,816 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $68.75, for a total value of $399,850.00. Following the transaction, the executive vice president now owns 27,198 shares of the company’s stock, valued at $1,869,862.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Francis Cogan sold 2,868 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.89, for a total value of $186,104.52. Following the completion of the transaction, the director now directly owns 57,728 shares in the company, valued at approximately $3,745,969.92. The disclosure for this sale can be found here. In the last three months, insiders sold 15,884 shares of company stock worth $1,054,459. 0.20% of the stock is owned by insiders.

Several equities research analysts have weighed in on the company. Goldman Sachs Group set a $27.00 price objective on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Credit Suisse Group began coverage on Regeneron Pharmaceuticals in a research note on Monday, May 20th. They set a “neutral” rating and a $336.00 price objective on the stock. Raymond James set a $60.00 target price on Banner and gave the company a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Citigroup raised Gilead Sciences from a “neutral” rating to a “buy” rating and set a $66.80 target price on the stock in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Buy” and an average target price of $81.56.

NASDAQ:GILD traded down $0.82 during midday trading on Tuesday, hitting $67.05. The stock had a trading volume of 154,275 shares, compared to its average volume of 5,225,046. Gilead Sciences, Inc. has a one year low of $60.32 and a one year high of $79.61. The stock has a market capitalization of $85.83 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 4.05 and a beta of 1.12. The company’s 50-day simple moving average is $67.26. The company has a quick ratio of 3.53, a current ratio of 3.62 and a debt-to-equity ratio of 1.09.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.23. Gilead Sciences had a return on equity of 37.98% and a net margin of 26.40%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Gilead Sciences’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Gilead Sciences, Inc. will post 6.62 EPS for the current year.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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