Marcum Wealth LLC Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Marcum Wealth LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,545 shares of the biopharmaceutical company’s stock after selling 165 shares during the period. Marcum Wealth LLC’s holdings in Gilead Sciences were worth $312,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in shares of Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Gilead Sciences by 1.2% during 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 purchasing an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Gilead Sciences during the 4th quarter valued at about $74,000. Eagle Asset Management Inc. increased its holdings in Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after purchasing an additional 60,697 shares during the period. Finally, ARGA Investment Management LP increased its holdings in Gilead Sciences by 6.2% during the 4th quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock valued at $51,446,000 after purchasing an additional 37,069 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research analyst reports. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 price target on shares of Gilead Sciences in a research report on Monday, July 1st. Maxim Group dropped their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Twelve investment 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 stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Hold” and an average price target of $81.81.

Gilead Sciences Stock Performance

Shares of GILD stock traded down $1.94 on Monday, reaching $74.83. The stock had a trading volume of 7,347,882 shares, compared to its average volume of 7,415,173. The stock has a market cap of $93.23 billion, a P/E ratio of 208.28, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a 50 day simple moving average of $68.80 and a 200 day simple moving average of $70.66.

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.